41 Days of School Choice: Day 13 – Educational Freedom Soars in Iowa
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Washington, D.C. (August 20, 2014) – The American Federation for Children, the nation’s voice for educational choice, celebrates the Iowa Individual and Corporate School Tuition Organization Tax Credit Program as day 13 of the #41Days of School Choice campaign. This tax credit scholarship program allows children of low-income families to attend a school of their parents’ choice that would typically be out of their financial reach.
The statewide program was enacted in 2006 and today serves more than 10,000 students. Individuals and state businesses are able to provide donations to non-profit scholarship tuition organizations in return for a 65 percent tax credit. The state originally set the awarded scholarships cap at $8.75 million, and last year, the cap was increased to $12 million for the 2014-15 school year in order to allow more children access to education opportunities. The increase received unanimous bipartisan support in both chambers of the legislature.
“The Iowa tax credit program helps thousands of students receive the quality education of their parents’ choice and we’re pleased to see the programs recent expansion to serve even more students,” said Kevin P. Chavous, executive counsel for the American Federation for Children.
Program Facts:
- Participating students family income cannot exceed 300 percent of the federal poverty guideline ($70,650 for a family of four in 2013
- Private school students are also eligible
- Participating scholarship tuition organizations must use at least 90 percent of contributions for scholarships, make scholarships available for more than one school and must conduct an annual review of financial statements by public accounting firm
Throughout the 41 Days of School Choice campaign, the American Federation for Children will be promoting programs using the hashtag “#41Days”.
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The American Federation for Children is the nation’s leading school choice advocacy organization and works in states across the country to help secure additional, high-quality educational options for families.