WASHINGTON, D.C. – Yesterday, Senators Jim Banks (R-Ind.) and Ted Cruz (R-Texas) introduced the Education Savings Accounts for Military Families Act. This legislation allows military families to opt-in to Military Education Savings Accounts (ESAs) to help fund their children’s education and expand their access to personalized, high-quality learning opportunities.
Senator Jim Banks (R-Ind.): “This bill supports military readiness by helping attract and retain top talent, ensuring service members don’t have to sacrifice their children’s education. I’m proud to partner with Senator Cruz on this commonsense bill.”
Senator Ted Cruz (R-Texas): “School choice is the civil rights issue of the 21st century, and parents should never have to choose between serving their country and ensuring that their children have access to a quality education. This legislation will ensure that military families are empowered to choose and secure the right education for their children. I am proud to be the leading champion of school choice in the Senate, and especially for promoting options for our military families, and I urge my colleagues to advance it.”
Heritage Action endorses this bill.
Ryan Walker, Executive Vice President, Heritage Action: “Our military service members and their families make tremendous sacrifices to preserve our safety, freedom, and way of life. Military families deserve the freedom and flexibility to educate their children in alignment with their values and unique needs. They should never have to choose between serving our country and providing their children with a quality education. Education Savings Accounts (ESAs) will provide them with flexibility in educational options to support their way of life. Heritage Action applauds Senators Cruz and Banks for leading the effort to ensure military families have the resources necessary to help their children succeed.”
Key provisions of the bill are:
- Education Savings Accounts (ESAs) are parent-directed funds that empower families to customize their children’s education. Approved applicants receive $6,000 annually to pursue alternative educational options tailored to their needs.
- Eligible expenses include private school tuition, online learning programs, private tutoring, college preparatory fees, educational services, and therapies, among others.
- Unused funds roll over annually. After high school graduation, the remaining funds may be used for college expenses or alternative professional training.
Read the bill text here.
BACKGROUND
Sen. Banks previously introduced the Education Savings Accounts for Military Families Act in 2023 as a member of the House of Representatives.
Read more about the bill here.
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