Gov. Doug Ducey of Arizona signed a universal education savings account (ESA) bill into law Thursday night, making Arizona the second state to pass a universal ESA program.
However, Arizona may be the first state to actually implement a universal ESA as the Nevada Supreme Court struck down the Silver State’s funding mechanism last year. ESAs in the Grand Canyon State have already survived a constitutional challenge.
Although the program is theoretically universal, with 1.1 million students in the state eligible, it will allow only limited growth until it reaches a cap of 30,000 students by 2022. Continue Reading →