ACE Educational Savings Accounts
- Posted by School Choice Ohio
- On June 8, 2021
School Choice Ohio Celebrates the ACE Educational Savings Accounts
COLUMBUS, OH (June 8, 2021) – Today, the Ohio Senate Finance Committee accepted an amendment to HB 110, the state’s biennial budget, that creates the Afterschool Child Enrichment (ACE) educational savings accounts. The ACE educational savings accounts would provide up to $500 per year for children ages 6-18 from families with an income of less than 300% of the Federal Poverty Level. The funds in accounts can be used for various enrichment and educational activities, including tutoring, day camps, music lessons, study skills services, and field trips.
The Senate proposal will support approximately 100,000 accounts in the first year and 150,000 accounts in the second year.
Chairman and President of School Choice Ohio, Eric Frank, praised the Ohio Senate Finance Committee’s action. “The ACE educational savings accounts are a major step forward in empowering families to determine which educational services would benefit their children. This program provides a lifeline to families across the state.”