Reimagining Education

Education Savings Accounts

Education Savings Accounts are helping families across the country, giving families and students hope and access to education paths that work for them.

With an ESA, families are no longer limited to the offerings of their assigned neighborhood schools. Instead, they have the freedom to customize the best learning environment for their child based on their needs.

In Arizona, Florida, Mississippi, North Carolina and Tennessee ESAs give families funding for:

  • Private school tuition
  • Specific homeschool expenses
  • Textbooks
  • Instructional materials/curriculum
  • Standardized test fees
  • Tutoring
  • Therapy for students with disabilities
  • Transportation
  • Online programs/courses
  • Á-la-carte public school courses
  • Coverdell college savings plans
  • Savings for future college costs

What parents are saying in other states:

Join the fight to bring ESAs to Missouri

Families in Missouri do not currently have access to this innovative way to help families access the schools and resources that are the best fit for their children, but several legislators are working to change this in 2018.

The proposed Missouri Empowerment Scholarship Accounts Fund would allow families to apply for a scholarship of up to $6,241 per year to help the family seek a variety of other educational opportunities including homeschooling, private schools or virtual education.

Families could also use the funding to employ a private tutor, purchase textbooks, pay fees for Advanced Placement exams, contract for specialized therapies, purchase computers needed for education, or pay for summer or after-school education programs.

Empowerment scholarship funds would be considered as non-taxable income, and any funds left over at the end of the year would roll over to the following year, so families could save for expected expenses.

ESAs would give Missouri families the freedom to choose the mixture of schools and support that will work best for their children.

 

 

How Education Savings Accounts Work
  1. The family receives a restricted-use debit card loaded with allotted funds for their child’s education.
  2. The family uses the card for approved educational expenses and submits the receipts to the approved administrative agent. Debit cards can be used only with vendors approved by the state.
  3. Families may roll over funds, and any unused funds at the end of the year can be used the following year.
2018 legislation for ESAs