The Future of School Choice

[Valin]

Defining Ideas: What’s more free market than charter schools and vouchers? Education savings accounts, which will revolutionize K-12 education

Clint Bolick

10/18/12

 

If you were designing a K-12 education system from scratch, with no preconceived notions, and taking full account of the breathtaking technological innovations that have made possible a high-quality, highly personalized education for every child, what would that system look like?

 

(Snip)

 

The Goldwater Institute first developed the idea of education savings accounts in 2005. The idea is simple. For any eligible K-12 student who agrees to leave the public schools, the state will transfer roughly 90 percent of the per-pupil amount (leaving the local school district contribution behind) into an education savings account owned by the student’s family. The savings account can be used for any approved education expense, from private school tuition to distance learning, curriculum, software, tutoring, community college tuition, contributions to a 529 college savings plan, or discrete services offered by public schools. Any money remaining after high school graduation can be used for college.

 

(Snip)

 

Arizona’s program is drawing attention from education reformers nationwide, especially in other states, such as Florida, which have Blaine amendments in their constitutions. The need is urgent, especially for children who are poorly served by the current system. Roughly half of all black and Hispanic students drop out of school before graduation. Failure to graduate dramatically decreases employment opportunities and increases prospects for crime and welfare dependency. Education savings accounts provide learning alternatives that can keep at-risk students motivated and off the streets.

 

(Snip)