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ESA Success Requires Strategy, Infrastructure, and Support Beyond Legislation

Implementation of education savings accounts hinges on operational readiness that extends well beyond passing new laws

By Michael B. Horn · April 21, 2025, 6:00 AM UTCCustomizable Educational OptionsEducation Savings AccountsEy-parthenonNita Bhat
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Key takeaways

01

ESAs differ from traditional vouchers by offering broader eligibility and flexibility across a wide range of educational services, including tuition, tutoring, and curriculum materials.

02

Passing ESA legislation is only the first step — successful implementation requires careful rule design, vendor procurement, financial oversight, and robust family support systems.

03

Integrating ESAs into long-term school improvement strategies remains a significant challenge, especially in regions with limited provider capacity.

As education savings accounts (ESAs) gain traction across the United States, the conversation is shifting from policy debates to the complexities of implementation. Fueled by post-pandemic dissatisfaction with traditional school models and a desire for more customizable educational options, ESAs are being adopted in a growing number of states, often under "universal" frameworks. But what does it actually take to make these programs work in practice?

What are the often overlooked questions and hurdles when it comes to turning ESA legislation into real-world results for families?

In this episode of The Future of Education, host Michael Horn dives into the intricate realities of ESA implementation with Philip Vaccaro, the Managing Director, and Nita Bhat, the Senior Director at EY-Parthenon. Drawing from their direct experience designing Arkansas's universal ESA program, they unpack the layers of strategy, policy, and logistics behind putting these innovative funding models into action.

Key discussion points from the episode…

  • What makes ESAs unique: Unlike traditional vouchers, ESAs offer broader eligibility and flexibility, allowing families to use funds on a wide range of educational services—from tuition to tutoring to curriculum materials.
  • Why implementation is the hard part: Passing legislation is just the beginning. Designing rules, choosing vendors, ensuring financial safeguards, and fielding family inquiries require meticulous planning and resources.
  • The long-term strategy question: How ESAs should integrate into broader school improvement efforts remains a challenge, particularly in areas with limited provider capacity or competing priorities.

Philip Vaccaro is a Managing Director at EY-Parthenon with over 14 years of experience advising education systems on strategy, performance, and large-scale transformation. Prior to consulting, he served as Executive Director of School Performance at the NYC Department of Education and began his career as a high school math teacher. His expertise spans system-level change, school accountability, and education reform across both public and private sectors.

Nita Bhat is a Senior Director at EY-Parthenon with nearly 11 years of experience advising public and private education clients on system design, budgeting, and strategic implementation. She previously served as Chief of Staff to EY's US Chair and began her career as a biology teacher through Teach For America in Philadelphia. Her expertise includes education reform, stakeholder engagement, and leading large-scale, equity-focused initiatives.

About the author

Michael B. Horn
Michael B. HornSpeaker, Writer & Advisor on the Future of Education, Clayton Christensen Institute

Michael Horn speaks and writes about the future of education and works with a portfolio of education organizations to improve the life of each and every student. He is the co-founder of and a distinguished fellow at the Clayton Christensen Institute for Disruptive Innovation, and host of the Future of Education podcast on MarketScale.

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About the Experts

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Michael B. Horn

Co-founder and Distinguished Fellow, Clayton Christensen Institute; Host, The Future of Education

Michael B. Horn is a co-founder of the Clayton Christensen Institute for Disruptive Innovation and a recognized expert on disruptive innovation in education. He is the host of The Future of Education podcast, where he interviews educators, entrepreneurs, and thought leaders shaping the future of learning. Horn has authored several books on education reform and is a widely cited voice on school choice, personalized learning, and ed-tech.

PV
Philip Vaccaro

Managing Director

EY-Parthenon

Philip Vaccaro is a Managing Director at EY-Parthenon with over 14 years of experience advising education systems on strategy, performance, and large-scale transformation. He previously served as Executive Director of School Performance at the NYC Department of Education and began his career as a high school math teacher. His expertise spans system-level change, school accountability, and education reform across public and private sectors.

NB
Nita Bhat

Senior Director

EY-Parthenon

Nita Bhat is a Senior Director at EY-Parthenon with nearly 11 years of experience advising public and private education clients on system design, budgeting, and strategic implementation. She previously served as Chief of Staff to EY's US Chair and began her career as a biology teacher through Teach For America in Philadelphia. Her expertise includes education finance and operational strategy.