Invest in Kids is a State-backed scholarship program for children, including at-risk children and children from disadvantaged households, to gain the opportunity to participate in private-sector schooling. Large tuition bills make it impossible for many families to send their children to private schools, even when they have high prospects and achievement levels. With scholarship assistance, many of these grade-school and high-school-aged students can continue their educational pathway. The program is backed by a State income tax credit. Provision of the credit gives approved Invest in Kids scholarship programs an incentive to create partnerships between private schools and their donors.
The Invest in Kids scholarship program is scheduled for phase-out starting December 31, 2023. Invest in Kids scholarship programs, and the educators and families that are part of these programs, are acutely aware of this phase-out and are taking action to engage with the General Assembly. Action by the Illinois General Assembly during the fall 2023 veto session will be necessary to enable the program to continue to help Illinois students. Many comparable and neighboring states, including Indiana and Iowa, have enacted permanent scholarship tax credit laws.