Summary
Texas will implement a $1 billion program to help families pay for private school and other educational costs. This program, part of Senate Bill 2, introduces Education Savings Accounts, which provide financial support to students for tuition and educational needs. The funds will be available to many students across Texas, with special consideration for low-income students and those with disabilities.
Key Facts
- Texas Senate Bill 2 sets aside $1 billion for Education Savings Accounts (ESA).
- The program allows families to use funds for private school tuition, educational therapies, and other resources.
- Each student participating in the ESA program can receive at least $2,000 annually.
- Students with specific needs, such as those attending private schools or with disabilities, may receive up to $30,000 annually.
- The program can serve up to 100,000 students, with priority given to low-income and disabled students if applications exceed the cap.
- The initial $1 billion funding could increase to $4.5 billion per year by 2030.
- All students in Texas, whether in public, private, or homeschool settings, are eligible to apply.
- The rules and implementation of the ESA program were officially filed to become effective soon.
