State selects Odyssey to administer education savings accounts
Business Record Staff Mar 2, 2023 | 10:08 am
1 min read time156 wordsAll Latest News, HR & Education, Law & Government
The state of Iowa has selected Odyssey as the vendor that will administer the state’s new education savings account program, which begins in the 2023-24 school year. According to a news release, the state issued a request for proposal in January and selected Odyssey from four applicants. Odyssey will manage all aspects of program administration, including applications, financial transactions, compliance, fraud prevention and customer service. Odyssey currently manages ESA programs in two other states. Once a contract with Odyssey is finalized, a team including staff from the Office of the Governor, the Department of Education, the Department of Management and Office of the Chief Information Officer will work with Odyssey to implement the application process and technology platform, the release said. In January, Gov. Kim Reynolds signed the Students First Act into law, providing K-12 students who attend accredited private schools in Iowa with educational funding equal to “per pupil” funds allocated annually to Iowa’s public schools.