Military Education Savings Account Act of 2018
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The Military Education Savings Account Act of 2018, to be introduced by Rep. Jim Banks (R-Ind.), will allow parents of military-dependent children to establish voluntary Education Savings Accounts (ESAs) to pay for whatever educational service works best for their children. Similarly to how veterans receive federal funding through the G.I. bill to attend any college he or she chooses, this legislation provides federal funding directly to military parents and children to attend any school or education service provider they choose.
Providing education choice to families in uniform is essential for military readiness because recruiting and retaining talent in the military is vital to our national security. According to a survey conducted by Military Times, 35 percent of active duty military families say that dissatisfaction with their children’s education was a significant factor in their decision to remain or leave military service. By providing education choice through ESAs, the military will possess a key tool to both attract and retain military families while also saving millions in military resources.
As Education Secretary Betsy DeVos said, Congress has “an opportunity in that regard to empower them with some more of those choices.” An ESA, she continued, would afford military families “a much different dynamic and approach to be able to get their education in the way that best works for them.”
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