In what is being called a complete "overhaul the Bush-era No Child Left Behind (NCLB) education law," this bill would authorize states to fund their local education agencies based on the number of eligible children enrolled in public schools and state-accredited private schools in each jurisdiction. Under current law, states allocate funds based on the number of eligible students in public schools/agencies.
The change effectively allows federal funds to follow low-income students to any school they attend throughout their academic careers , public or private
This bill would also allow families that homeschool children to pay the expenses of that education through Coverdell education savings accounts. The existing limit on contributions to Coverdell savings accounts would be removed — but the accounts would also be set up with safeguards to prevent contributions that exceed the "qualified educational expenses" that are actually needed to homeschool children.
Current law caps contributions to Coverdell education savings accounts at $2,000 per year. Tax-exempt qualified tuition programs — like 529 tuition programs — could be used to pay for qualified pre-kindergarten, elementary, and secondary education expenses.