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Indiana Enhances Educational Scholarship Opportunities

The state of Indiana has announced an exciting expansion of its partnership with ClassWallet, a leading digital wallet solution for public funds. This collaboration is set to streamline the management of both the Education Scholarship Account (ESA) and Career Scholarship Account (CSA) programs. The new agreement allows Indiana to distribute a significant $8.85 million annually over the next two years, aiming to support various educational initiatives for families and students across the state.

What the Partnership Entails

This partnership comes after a competitive Request for Proposal (RFP) process, affirming the state's confidence in ClassWallet's ability to deliver public funds in a secure, efficient, and clearly accountable manner. The funds are directed towards aiding up to 3,500 students in advancing their educational goals. Steve Lindeman, CEO of ClassWallet, expressed his gratitude, stating, "We appreciate the continued confidence the State of Indiana has placed in us... we're excited to continue our work together to maximize the impact of these critical dollars for families and students across the state."

The Education Scholarship Account (ESA)

The ESA program caters to K-12 students with disabilities and their siblings, providing financial assistance for various educational expenditures. Families can utilize these funds for purposes such as private school tuition, home-based education, therapies, tutoring, and other approved educational expenses. The launch of the recent cycle for this program is scheduled for June 1, 2025.

Career Scholarship Account (CSA) Program

On the other hand, the CSA program is designed to prepare high school students in grades 10-12 for their future careers. Students eligible for this program can avail funds for certification exams, transportation to Job sites, and more, with a maximum annual allocation of $5,000 per participant. This funding will also be managed through the secure platform of ClassWallet, ensuring a seamless experience.

Streamlining Access to Resources

Another significant aspect of this partnership is the incorporation of ClassWallet's Direct Pay and Marketplace functionalities. These advanced features will modernize how families shop for and interact with educational vendors. With Direct Pay, families can make secure payments directly to program-approved providers, enhancing transparency and efficiency. The Marketplace functionality will allow program participants to use their allocated funds to shop online with approved vendors, further simplifying the purchasing process for educational resources.

Commitment to Financial Modernization

Indiana Treasurer Daniel Elliott emphasized the importance of financial modernization in enhancing educational opportunities for its students. He noted, "At the heart of these programs is our commitment to financial modernization and opportunity. ClassWallet's technology gives us the tools to ensure Hoosier students not only have access to resources, but that those resources are delivered efficiently, securely, and with strong accountability."

A Proven Track Record

ClassWallet’s reputation as a trailblazer in the realm of financial and government technology has made it a trusted partner. The company has successfully administered public funds in 37 states, amounting to over $5 billion in disbursements to citizens since its inception in 2014. With its focus on delivering the highest standards of program integrity and efficiency, ClassWallet continues to stand out in the financial services sector. In 2024, the company was recognized by J.D. Power for providing an outstanding customer service experience, a feat achieved by few in the software industry.

For more information about Indiana’s scholarship programs, visit Indiana's Scholarship Information.

This partnership not only highlights Indiana's commitment to educational advancement but also sets a benchmark for other states looking to modernize how they manage education funds. With continued investments in technology and innovative solutions like those offered by ClassWallet, Indiana is poised to significantly enhance the educational experience for its students and families.