NOW ALLOW WHATEVER'S LEFT OVER AT THE END TO BE ROLLED OVER INTO A HOUSING OR RETIREMENT ACCOUNT:

As of next year, parents in Nevada can have 90 percent (100 percent for children with special needs and children from low-income families) of the funds that would have been spent on their child in their public school deposited into a restricted-use spending account. That amounts to between $5,100 and $5,700 annually, according to the Friedman Foundation for Educational Choice. Those funds are deposited quarterly onto a debit card, which parents can use to pay for a variety of education-related services and products -- things such as private-school tuition, online learning, special-education services and therapies, books, tutors, and dual-enrollment college courses. It's an à la carte education, and the menu of options will be as hearty as the supply-side response -- which, as it is whenever markets replace monopolies, is likely to be robust. 

Notably, families can roll over unused funds from year to year, a feature that makes this approach particularly attractive. It is the only choice model to date that puts downward pressure on prices. Parents consider not only the quality of education service they receive, but the cost, since they can save unused funds for future education expenses. 

Accountability is infused throughout the ESA option. Funding is distributed into the accounts quarterly, and parents provide receipts for expenditures to the state. In the event there is a misuse of funds, the subsequent quarter's distribution can be withheld and used to rectify it. Students must also take a national norm-referenced test in math and reading, a light touch that doesn't dictate students take a uniform state test.

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