News and Blog

What Are Education Savings Accounts?

What Are Education Savings Accounts?

Many parents would love a private education for their children but don’t think they can afford it. However, there is a program available that helps offset the cost of private education for families.

Educational Savings Accounts (ESAs) allow for parents to withdraw their children from public or charter schools and receive the value of their child’s allocated distribution of public education funding to use toward a private education.

The annual sum is placed in a government-authorized savings account and can be used to cover private school costs and fees, online learning platforms, private tutoring, community college costs and other approved customized learning services and materials. Some educational savings accounts, but not all, even allow for students to use their funds to pay for a combination of public school courses and private services. In short, ESAs empower parents to evaluate the quality and cost of services to make the best educational choices for their child. 

Does Indiana Offer ESAs?

When it comes to educational savings accounts Indiana is one of the states that offers this type of program. In Indiana, it is called the Education Scholarship Account Program. This program allows students with special needs to receive education funding for private school tuition or other educational services. These other services can include special needs services, therapies, individual classes, testing fees, and school-sponsored extracurricular activities. Families may also use up to $750 annually for transportation services. With this program, Indiana allows for a customizable educational experience for students and their families. 

For these educational savings Indiana funds 90% of what a student would receive in public school, which is determined by the student’s school district of residence, as well as the student’s special needs status. Parents may even roll up to $1,000 of unused funds from a previous year, to be used in subsequent years. ESAs can also encourage savings for college. Families can save unused funds for future college costs. Once enrolled in the program, students remain eligible to receive Education Scholarship Accounts until they graduate or turn 22. 

How Can I Use an ESA to Get My Child Into Private School?

Indiana’s Educational Scholarship Account Program is the state’s first educational savings account and is helping thousands of Hoosiers annually. Currently, the program helps students with special needs obtain services that best fit their needs. Eligibility for the ESAs is limited to those families whose student needs special services from families earning up to 300 percent of the federal free-and-reduced lunch program. 

The program also mandates that participating students take the state test or assessment dictated by their special education service plan. Other requirements include that the parents use the funds for qualified expenses and that they ensure a student’s study in the areas of reading, grammar, mathematics, social studies, and science.

It is important to note that Indiana does not allow for a student to be awarded the Choice Scholarship and Educational Scholarship Program within the same year. However, if your child is the current recipient of the Choice Scholarship award, you may apply for the Educational Scholarship Account. If approved, your child will not be able to use the Choice Scholarship and will be able to use the funds through an Indiana ESA account to purchase additional educational services or fees. 

Does Central Christian Academy Accept Educational Savings Accounts?

There is a saying at Central Christian Academy that states, “Every Charger, Every Day, Every Opportunity in Every Way.” CCA will accommodate our students and their families in every way possible to become prepared and succeed in their pursuits after their time as a Charger. Central Christian Academy does accept educational savings accounts.

CCA works with all families to make private school education affordable and an easy process, while also working with you to find a plan of payment that is seamless and easy. If your family meets the eligibility requirements to enroll in the state’s Educational Scholarship Account Program, you can use the funding to pay for tuition at CCA. 

Join the Central Christian Academy Family

Since 1971, Central Christian Academy has been providing a premiere, Christ-centered education centered on a Biblical platform that has opened many doors and continued to broaden our students’ horizons. With a purpose, passion, and reason for all that we do, we want to make sure your child receives the best possible education with the services needed to help them achieve all their educational goals. To hear more about Central Christian Academy and how to use your ESA, contact us today.

Leave your thought here

Your email address will not be published. Required fields are marked *

Select the fields to be shown. Others will be hidden. Drag and drop to rearrange the order.
  • Image
  • SKU
  • Rating
  • Price
  • Stock
  • Availability
  • Add to cart
  • Description
  • Content
  • Weight
  • Dimensions
  • Additional information
Click outside to hide the comparison bar
Skip to content