Education Savings Account Frequently Asked Questions
If you’re considering how the Students First Act and, likewise, the Education Savings Account (ESA) funds may affect your Rivermont Collegiate tuition, we’re here to share answers to some commonly asked questions regarding ESA funds in Iowa.
What is an ESA in education? What does ESA stand for?
ESA stands for Education Savings Account. It’s part of the Students First Act in Iowa, which helps Iowa families pay about $8,000 of the annual tuition (for each student) towards a nonpublic school.
What can ESA funds be used for? What qualifies for ESA?
ESA funds must be used for tuition, fees, and other qualified education expenses.
Who is eligible for ESA funds?
All K-12 students living in Iowa qualify for Education Savings Account (ESA) funds regardless of household income.
What are the income requirements for ESA funding in the 2025-2026 school year?
There is no income requirement to qualify for ESA funds.
When will applications for ESA open?
Applications for the ESA will open from April 16 through the end of June.
If I qualified for ESA funds last year, do I have to apply again?
Any student who was approved for an ESA in the previous school year and remains an Iowa resident is automatically eligible for ESA funding for the upcoming school year. However, to receive funding, a new application must be submitted each year through the Odyssey platform.
Does Rivermont offer other financial assistance?
Yes, Rivermont offers additional scholarship aid, bringing the total cost of attending private school well within reach for Iowans.
How are ESA funds distributed?
Funds are split in half — the first half is available for the fall semester, and the second half is available for the spring semester.
Do you have to live in Iowa to be eligible for ESA funds?
Yes, Iowa residency is a requirement for ESA funds.
Where can I find more information about the Students First Act and Education Savings Accounts?
The Iowa Department of Education website is a great resource: https://educate.iowa.gov/pk-12/educational-choice/education-savings-account#information-for-families