[New post] What is the Invest in Kids Scholarship Program, and why it matters
Barrington Hills Observer posted: " By Hannah Schmid | Illinois Policy What is Invest in Kids? The Invest in Kids Act encourages private donors to fund scholarships for low-income children so they can choose a private school when the public system is not meeting their needs. It started " The Barrington Hills Observer
Over 9,600 low-income students rely on the Invest in Kids scholarship program to attend schools that best fit their needs. Here's what you need to know about the program and why it is important lawmakers extend the program this fall.
The Invest in Kids Act encourages private donors to fund scholarships for low-income children so they can choose a private school when the public system is not meeting their needs. It started in 2017 but will expire at the end of 2023 if it is not extended.
Individuals and businesses who contribute to a scholarship granting organization get an income tax credit equal to 75% of their donation. The state limits the program to $75 million per year and limits tax credits to $1 million per taxpayer per year.
How many students does it help?
In the 2022-2023 school year, 9,656 students received Invest in Kids scholarships to attend schools that best fit their needs. Since the program launched in the 2018-2019 school year, 40,940 scholarships have been awarded.
But many more students remain on waiting lists to receive these life-changing scholarships. As of March 2023, Empower Illinois, the state's largest scholarship granting organization, had 24,000 students already in line for a 2023-2024 scholarship.
Who does it help? Where do they live?
Over half of the low-income students receiving scholarships from Empower Illinois are Black or Hispanic. Scholarship recipients are divided into five regions across the state. Empower grants the most scholarships to Region 1, which encompasses Cook County.
For a detailed look at where the nearly 9,600 students receiving scholarships statewide go to school and who's responsible for representing their welfare in Springfield, see this article.
Where Invest in Kids scholarship recipients go to school
Invest in Kids scholarship recipients for the 2022-2023 school year by Illinois House district.
(A much larger interactive map is included in IP article)
Why does it matter?
Thousands of low-income families rely on the Invest in Kids scholarships so their children can attend a school that best fits their needs. Without these scholarships, most of the families would be left without options and unable to afford a private education.
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