More than 29,000 Iowa students have applied for the state’s new education savings account program, which allows families to pay for private school expenses. Out of these applicants, over 17,000 have already been approved, according to Governor Kim Reynolds. The remaining applications are still pending, and the state has until July 31 to approve or deny them.
What is notable is that more than half of the applicants already attend private schools. This demonstrates a strong desire for school choice among Iowa families, according to Governor Reynolds. The numbers far exceed the state’s projections, which predicted that only 14,068 students would be approved for education savings accounts in the program’s first year.
Families who are approved for the program will receive $7,635 per student for the 2023-24 school year. However, the money will only be given out if the student is separately accepted to attend a private school. The state’s budget for the coming fiscal year includes $107.4 million to fund the program, and the state has stated that every approved account will be funded.
The majority of students who will receive education savings accounts this year already attend private schools. Sixty percent of the approved applications are for students who are currently enrolled in accredited private schools, while 40% are for students planning to switch from public to private schools, including incoming kindergarteners.
Current private school students are eligible for the program in the first year only if their families have a household income at or below 300% of the federal poverty guidelines. For anyone switching from public school to an accredited private school, as well as incoming kindergarteners attending private schools, they will be eligible for an ESA in the 2023-24 school year. By the program’s third year, every family in the state will be able to apply.
The private school application process is separate from the ESA approval process. Families have to apply separately for their children to attend an accredited private school and be accepted by the school. The money remains in the state’s possession until the student’s enrollment in the private school is confirmed and the payment to the private school is approved by the student’s parent or guardian.
It is important to note that the state won’t have a full picture of education savings account participation and the financial impact on public schools until school districts report their certified enrollment to the state in early October. Public school districts will receive $1,205 in state money for every private school student receiving an education savings account within the public district’s boundaries. However, public schools will lose the $7,635 in per-pupil funding from the state for every student who switches from public to private school.
The accounts are set to be funded as soon as July 15, according to the governor’s office. The program has sparked some controversy, with the president of the Iowa State Education Association expressing concerns about the impact on public school students.
Overall, the high number of applications for the education savings account program in Iowa reflects a strong demand for school choice and the desire of parents to choose the best education for their children.
How does the high number of applicants for the Iowa education savings account program reflect the desire for school choice among families?
Over 29,000 students in Iowa have applied for the state’s new education savings account program, which allows families to pay for private school expenses, according to Governor Kim Reynolds. Of these applicants, more than 17,000 have already been approved, while the remaining applications are still being reviewed. The state has until July 31 to make a decision on the pending applications.
What is particularly noteworthy is that over half of the applicants are already attending private schools. This indicates a strong desire for school choice among Iowa families, as highlighted by Governor Reynolds. The number of applicants has far exceeded the state’s projections that only 14,068 students would be approved for education savings accounts in the program’s inaugural year.
Families who are approved for the program will receive $7,635 per student for the upcoming 2023-24 school year. However, the funds will only be disbursed if the student is accepted by a private school. The state has allocated $107.4 million in its budget for the coming fiscal year to fund the program, and it has assured that every approved account will receive funding.
The majority of students who will benefit from education savings accounts this year are already enrolled in private schools. Sixty percent of the approved applications are for students currently attending accredited private schools, while the remaining 40% are for students intending to switch from public to private schools, including incoming kindergarteners.
