Funding Programs

A 529 plan is a tax-advantaged savings account designed for education expenses, allowing investments to grow tax-free when used for qualified costs like tuition, books, and supplies.

Corporate scholarships are educational awards funded by businesses and corporations, available through direct company programs, employee-dependent benefits, or tax-credit scholarship organizations.

A Coverdell ESA is a tax-advantaged savings account allowing up to $2,000 annual contributions per child for education expenses. Funds grow tax-free and cover K-12 costs (including homeschool expenses in most states) plus college.

An Education Freedom Account (EFA) is a state-funded savings account that provides families with public education dollars to spend on approved educational expenses, including homeschool curriculum, tutoring, and educational services.

An Education Savings Account (ESA) is a state-funded account that deposits public education money into a parent-controlled account, allowing families to pay for approved educational expenses including homeschool curriculum, tutoring, online courses, and educational therapy.

An Empowerment Scholarship Account (ESA) is Arizona's education savings account program that deposits state education funds—approximately $7,000 per student annually—into parent-controlled accounts for approved educational expenses like curriculum, tutoring, and private school tuition.

Homeschool scholarships are financial awards available to homeschooled students for either K-12 educational expenses (through state ESA/EFA programs) or college tuition, with options including merit-based, need-based, and homeschool-specific scholarship programs.

Military scholarships are education funding programs offered by the U.S. Department of Defense and military branches that provide tuition coverage in exchange for a service commitment, including ROTC scholarships and service academy appointments.

A needs-based scholarship is financial aid awarded based on a family's financial circumstances rather than academic or athletic merit, using FAFSA data to determine eligibility for grants, work-study, and subsidized loans.

A school voucher is a certificate of government funding that allows parents to use public education dollars to pay private school tuition instead of enrolling their child in public school.

Special needs scholarships are state-funded programs providing families of children with disabilities financial assistance for educational expenses including private school tuition, homeschool curriculum, therapy services, and specialized learning support.

Tax credit scholarships are school choice programs where individuals or businesses receive tax credits for donating to scholarship organizations, which then award funds to eligible students for educational expenses including private school tuition and sometimes homeschool costs.

A tuition tax credit directly reduces your tax bill dollar-for-dollar based on qualified education expenses, making it significantly more valuable than a tax deduction which only lowers your taxable income.

A tuition tax deduction reduces your taxable income by the amount of qualified education expenses, lowering your overall tax liability indirectly. It's less valuable than a tax credit but still provides meaningful savings in states that offer it.