School Vouchers and College Savings Accounts: A Proposal
So I was thinking a bit today, and wanted to get some reactions to this concept:
1) Calculate the average per student expenditures by state, including non-public school students in the definition of "per student" (call that the "adjusted per-student expenditure");
2) Rather than a school voucher, offer a tax credit in the amount of the adjusted per-student expenditure to anyone with a child in grades K-12 and with actual education expenses (private school tuition) of equal to or more than the adjusted per-student expenditure; and
3) For taxpayers with private school tuition less than the adjusted per-student expenditure, fund a college savings account with the difference.
As I see it, this should accomplish the following:
a) offer school choice to a number of families that otherwise could only consider public school;
b) minimize the drain on public school funding that providing choice threatens;
c) potentially defrays the cost of college for students who might otherwise have been unable to attend.