If you have any questions about Compass Classroom curriculum or see any errors in this page, please contact us.
Use our guide below to see what programs are available in your state.
As a homeschool parent, finding ways to fund your child’s education while managing household finances can be challenging. This is where an Educational Savings/Spending Account (ESA) may be helpful. In this post, we’ll explore what ESAs are, how they work, and the potential benefits they offer. We also will discuss the concerns posed by some regarding state involvement in education, and how to weigh the pros and cons of these new programs. The reality is that education is facing rapid, and often positive, change at the federal, state, and local levels. Homeschool parents need to keep abreast of how these changes affect their financial choices.
Educational Savings Accounts (ESAs) are publicly-funded accounts created by state governments to support K-12 learning. These funds are restricted to the specific educational purposes outlined by state law, but allow wide latitude for parents to select how those funds are directed to benefit their child’s educational needs. Examples of ways states allow parents to direct those funds include:
Each state ESA program has its own unique guidelines. Some programs only benefit special needs students, some have income restrictions, some are limited to paying for private school tuition only, and some have very few restrictions and are open to all students of that state. You can use our interactive map below to learn more about any ESA programs available in the state where you live.
State ESAs direct tax payer funds earmarked for individual students into educational opportunities that are more-directly related to that individual student. Some states allow nearly ALL the funds allocated for individual students to be made available for parents to redirect into an educational opportunity other than their assigned public school program. Other states allow for a much smaller amount to be used for very specific and very restricted uses–for example: tutoring for students attending poorly performing public schools.
State sponsored ESA programs differ from other educational savings accounts and programs. 529 college savings accounts are a popular way for parents and grandparents to earmark tax-free funds for families to spend on future college expenses. In recent years, the federal tax code has changed to allow families to withdraw up to $10,000 per year to help pay for K-12 education tuition. An important distinction between ESA programs and 529 accounts is their scope and limitations:
Compass Classroom curriculum is available through many of these state programs, and we’re constantly working to add more. Here are the states where you can purchase our products. Click a state to see a guide.
This varies widely from state to state and can vary on the type of student as well. Some states give blanket scholarships of $1,000-$3,000 per student or per family. Other states allow parents to redirect the bulk of what the state determines it would cost to educate a child towards educational opportunities of the parent’s choosing. Use our interactive map to learn more about opportunities available in your state.
Each state determines their own eligibility requirements. Some states offer very restricted and narrow ESAs. Others allow any student–public, private, or homeschooled–to participate. Every state currently offering an ESA requires proof of residency and many require proof of income if income is a variable in determining eligibility. Participants must provide required documentation in order to qualify.
Each state funds their ESA differently. Some draw from funds set aside by state legislators, while others draw from the taxes assigned to educate students. There are even unique state programs that partner with the business industry and allow corporations to donate tax-free monies into scholarship funds to benefit educational choice.
For some families, ESAs create a questionable open door of accepting funding at the expense of being required to be accountable for those funds–and perhaps more, down the road. Some families worry that the homeschool community is allowing the government to have access to records and information they would not normally have to share. We neither endorse nor discourage families from using ESA funds, but instead encourage each family to prayerfully consider what is best and wise for their own family.
If you have any questions about Compass Classroom curriculum or see any errors in this page, please contact us.
