ESA Terms

An ESA application is the online process to access state-funded Education Savings Account dollars for private school tuition, homeschool curriculum, tutoring, and other approved educational expenses.

An ESA audit is a review of your Education Savings Account to verify funds are being used appropriately for approved educational expenses. Audits can be random or triggered by flagged transactions.

Your ESA balance is the total available funds in your Education Savings Account. Most states deposit funds quarterly and allow unused balances to roll over to the next school year.

ESA compliance means following state rules for Education Savings Account use: spending only on approved educational expenses, maintaining proper documentation, and submitting required quarterly reports.

ESA disqualified expenses are items and services that cannot be purchased with Education Savings Account funds, including entertainment items, household goods, food, and non-educational purchases.

An ESA marketplace is an online platform where families can purchase pre-approved educational products and services directly with ESA funds, eliminating out-of-pocket costs and streamlining approvals.

ESA receipt requirements specify documentation needed for Education Savings Account purchases: itemized receipts with vendor name, date, items purchased, and amount paid, uploaded within quarterly deadlines.

ESA reimbursement is the process where parents pay for approved educational expenses out-of-pocket, then submit receipts to their state ESA program for repayment of those costs.

ESA renewal is the annual process where families confirm their continued participation in an Education Savings Account program for the upcoming school year, typically through a renewal contract rather than a full reapplication.

ESA rollover allows families to carry forward unused Education Savings Account funds from one school year to the next, enabling strategic budgeting for larger educational expenses and even future college costs.

An ESA-approved vendor is a business, organization, or individual officially registered with a state ESA program to receive payments for educational products and services using public education funds.

ESA-eligible expenses are educational costs approved for payment using Education Savings Account funds, including curriculum, tutoring, educational therapy, testing fees, and certain technology and supplies.