(Des Moines) Iowa Governor Kim Reynold’s landmark Student First Education Savings Account Program registration opened today at 8:00 a.m. on the Iowa Department of Education website.
Reynolds believes the school choice will improve the overall education experience in Iowa and create a system of schools, both public and private, driven by student-centered missions.
The educational savings account allows parents to receive nearly $7,600 annually if they enroll their children in a private school. The bill did not pass the Iowa legislature without some heavy opposition, with the main concern on how this would financially affect Iowa’s public schools.
*During the 2023-2024 school year, private school students with household incomes at or below 300% of the federal poverty level (FPL), currently $83,250 for a family of four, are eligible.
*In the 2024-2025 school year, private school eligibility expands to include families with household incomes at or below 400% FPL, currently $111,000 for a family of four, are eligible.
*Beginning in the 2025-2026 school year, all K-12 students in Iowa are eligible regardless of family income.
Parents or guardians who enroll their eligible children in an accredited private school will receive an amount equal to the per-pupil funds allocated by the state to all public school districts each year. The funds are estimated at $7,598 per pupil for the 2023-2024 school year. They will be deposited into an education savings account (ESA) for tuition, fees, and other qualified education expenses.
