I have spent the past few weeks leaning about fostering and researching different rescues around me (Los Angeles). I haven’t started fostering yet but this week plan to contact the rescue that I’ve finally narrowed it down to to get the ball rolling. This is a bit of what I know so far…
1) Do you get payed to be a foster home
–You are not payed for your time like it’s a job or anything but I can say that at least about half of the rescues I’ve looked into do provide you with pet food, litter and medical care, plus in most cases the animal has already been spayed/neutered. Also, you almost always or always have the option to adopt your foster pet if you like.
2) Do you need any type of college degree
–Not at all, you just need to provide a loving, safe home for the animal. They will probably inquire about other possible pets in your home and if they’re up to date w/ everything. Some want you to hopefully be able to bring the animal to some adoption days on the weekends or other days if you can, as this gives it a better chance of finding a forever home sooner.

3) How many animals can you foster at one time
–Haven’t found any specifics on this, but have gotten the impression it is however many is reasonable for the space/situation for the animals to get proper attention and care.
4) How did you get started as a foster parent?
–I wanted a cat and was going to adopt but found out about fostering and thought it was a wonderful way to give an animal a second chance and also experience the joy and companionship of an animal. There are SO many animals that are waiting for someone like you to give them the loving help they deserve. By fostering an animal you are directly saving a life. You can do a simple search on google, yahoo, or whatever (ex: animal rescue los angeles) to find multitudes of rescues or shelters near you (if you’re in a smaller city you might only find a couple, or check the phonebook or call a vet, etc.) Some sites have lots of names of or links to other rescue sites in them, either way you should find options.
Best wishes!
"I am only one, but still I am one. I cannot do everything, but still I can do something; and because I cannot do everything, I will not refuse to do something that I can do."
-Edmund Everett Hale

I have done foster care for 2 years for dogs and I think I can answer your questions.
1) You do not get paid in cash – you get paid in love, loyalty and puppy kisses!
2) I don’t know of a reputable rescue that doesn’t pay for vet care.
3) You do not need a college degree, just understanding and love for the animals you want to care for.
4) Most rescues have an application you can fill out online.
5) How many animals you can have depends on local regulations where you live and how many you feel you can comfortably handle. I got a hobby kennel license from my city so that I could have more than the city’s 3 personal pets as allowed by city ordinance.
As far as how hard it is to give up the animal, yet it can be very painful because you put so much of yourself into them. My response when asked how I can do it (and I have adopted some) is that if the potential adopter can give the animal AT LEAST as good a home as I can that is my reward – that and it gives me room to help another one to a new life.