Innovative education savings accounts are the next generation of school choice.
As of Spring 2016, five states have enacted education savings account programs. E3 is working to educate citizens on the benefits of legislation to create ESAs in New Jersey modeled after the first near-universal education savings account program in the nation enacted by Nevada in 2015.
ESAs allow parents to receive a deposit of public funds into government-authorized savings accounts with restricted, but multiple, uses. That means parents are no longer limited to a choice among schools; they can fully customize their children’s education. The state gives parents restricted-use “debit cards” loaded with a portion of their children’s share of per pupil funds. They can then direct those funds to pay for pre-approved educational services and providers, including private school tuition, textbooks, curricula, online learning, individual public school classes, and Advanced Placement courses. Parents can even roll over unused funds from year to year and even into a college savings account.