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Education Savings Accounts

In May 2019, Tennessee Gov. Bill Lee signed an education savings account plan into law. Under the plan, education savings accounts, a newer type of voucher, will be available beginning no later than the 2021-2022 school year to up to 5,000 students leaving public schools in Memphis and Nashville. By 2024, the program will be capped at 15,000 students but could be expanded by a future legislature. The accounts will provide an average of $7,300 in taxpayer money per eligible child, per year; the funds can be used to pay for private school tuition or other private education services such as tutoring.

More details will become available as the state begins to implement the program. In the meantime, please check out this summary from American Federation for Children.

Individualized Education Account Program

The Individualized Education Act, adopted by the Tennessee General Assembly in 2015 (Public Chapter 431), creates the Individualized Education Account Program and related accounts (IEAs) for eligible students with disabilities to use for educational purposes. The program provides options for parents and students to choose the education opportunities that best meet their unique needs through access to public education funds. As January 18, 2017, the only Memphis-area IEA participant was Madonna Learning Center.

For more information or to find out if you qualify, visit the TN Department of Education website. You might also find this summary from the American Federation for Children helpful.

Note: A child must have attended a Tennessee public school for at least two semesters preceding the semester in which the student receives an IEA or be enrolling in a Tennessee school for the first time.