The Truth About Downshifting
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Education Freedom Accounts: The Full Breakdown

Democrats have made school choice their newest “downshifting” talking point, claiming Education Freedom Accounts drain public schools and push up your property taxes. This is the complete, sourced answer: how the money works, what it costs, who uses it, how it’s audited, and why it cannot touch your property-tax bill.

The bottom line: The entire EFA program costs about $52 million. New Hampshire spends more than $4 billion a year on public schools,14 so EFAs are barely one percent of it, about a penny on the dollar. A program that small did not raise your property taxes 20 percent. And the grant comes from the state, not from your local school budget, so the number that actually sets your tax rate never moves.
$0
EFA dollars that come from your local property taxes6
~$5,255
Average EFA grant, vs. ~$20,000 per public-school pupil23
96.7%
Of EFA users were already in private or home school1
~1.3%
EFAs’ share of NH K–12 spending — about a penny on the dollar714
Clean
Independent audit opinion (Grant Thornton) on the administrator10
How It Works

The Grant, Where It Comes From, and How Families Use It

Every New Hampshire child comes with a state “adequacy” grant, the money the state sets aside for that child’s education. An Education Freedom Account simply lets a family direct that grant toward the option that fits their child instead of a single assigned district school.

What the grant is worth

The grant starts with a base of about $4,266 per pupil. On top of that, students get “differentiated aid” for greater needs: roughly $2,393 more for a student who qualifies for free or reduced-price meals, added funding for special education, about $832 for English language learners, and more for a third grader who is not yet reading at grade level.8 With those add-ons, the average EFA grant works out to about $5,255.2

Where the money comes from

The grant is paid out of the state Education Trust Fund. That fund is filled by business taxes, the statewide education property tax, the tobacco tax, the real estate transfer tax, and the lottery.6 It is state money, collected at the state level. Your town’s local school tax is a separate pot, set by your local budget, and none of it flows into an EFA.

What a family can spend it on

EFA funds are restricted to approved educational costs: private-school tuition, tutoring tied to core academic subjects, curriculum and books, a computer and internet used for school, special-education therapies, testing, approved online and summer programs, career and technical courses, even individual classes bought back from the local public school.9 The money arrives in quarterly installments (20% in September, 20% in November, 30% in January, 30% in April), and it is paid directly to providers or reimbursed against receipts. Cash and gift cards are not allowed, handwritten receipts are rejected, and the administrator reviews purchases to confirm they qualify.9

The Property-Tax Question

Why an EFA Cannot Move Your Tax Bill

Here is the part the downshifting crowd skips. Your property-tax rate is set by two local votes: your town budget and your school-district budget. The EFA grant never enters either one. It comes from the state, and it goes to the family. A family that uses an EFA still lives in town and still pays every dollar of their local school taxes, so the local money that actually sets your rate does not move.

If you want to know what really drives your school taxes, look at the size of the bill. New Hampshire spends around $20,000 per public-school student, and the state’s base grant covers only about $4,000 to $5,000 of it. The rest is local, decided at your school-district meeting. The entire EFA program is about a penny of every education dollar. It is not what is moving your number.

Myth vs. Fact

Answering Every Attack

Myth

“EFAs raise your property taxes.”

Fact

The grant is state money from the Education Trust Fund. It does not come from your local property taxes, and your local rate is set by your town and school-district budgets. An EFA cannot add a dollar to your bill.6

Myth

“They drain money from public schools.”

Fact

96.7% of EFA users were already in private or home school. They did not leave a public school for anyone to lose funding over. And state aid to public schools went up $169.1 million.1

Myth

“It’s a handout to the wealthy.”

Fact

The program still prioritizes lower-income families, students with disabilities, and existing participants when demand is high, and the grant is largest for the students with the greatest needs. Every family pays taxes toward their own child’s grant.18

Myth

“It’ll cost a billion dollars.”

Fact

Each EFA student costs about $5,255. That same student in public school costs about $20,000. Choice is the cheaper option for taxpayers, and the whole program is about 1.3% of K-12 spending, roughly a penny on the dollar.23

Myth

“There’s no accountability.”

Fact

The administrator earned a clean, unqualified audit from Grant Thornton. Funds are restricted to approved expenses, cash and gift cards are barred, and a full state performance audit is underway with tighter rules being added.105

Myth

“It only helps kids who already left public school, so it’s just new spending.”

Fact

Those families were already paying full school taxes and getting nothing back. Their child’s state grant is a fraction of a public-school seat, and if even a share of them enrolled in public school, the cost to taxpayers would go up, not down.13

Who Uses It

The People Behind the Numbers

The program launched in 2021 and has grown every year, reaching 10,510 students in 2025-26, up from 5,765 the year before.1 The large majority, 96.7%, were already learning in a private or home setting before they signed up.1 It began with an income cap and prioritized working families, and it still puts lower-income families, students with disabilities, siblings, and existing participants first when applications run high.1 With the 2025 expansion, New Hampshire became the 18th state to offer families a universal choice option.

Is It Accountable?

Yes. And They Know It.

“No accountability” is the fallback line when the tax argument falls apart. It isn’t true. The program administrator, the Children’s Scholarship Fund of New Hampshire, earned a clean, unqualified opinion from independent auditor Grant Thornton, the highest grade an outside auditor can give.10 EFA money can only go to approved educational expenses. No cash. No gift cards. Handwritten receipts get rejected, and every purchase is reviewed before it’s paid.9

It is one of the most closely watched line items in the entire state budget, audited and capped every year, and Republicans keep adding checks on top, including annual audits and cross-checks against public-school rolls.5 Four years and tens of thousands of purchases in, the people who keep promising a scandal still haven’t produced one. What they’ve got is a program that spends a penny on the dollar, serves ten thousand kids, and passes its audits. So watch what their bills actually do: they don’t tighten EFAs, they abolish them.

What They Actually Want

Democrats Have Tried to Kill It

When Democrats say they only want “accountability,” look at their votes. Senator Jay Kahn’s bill to repeal the program outright, SB 432, was killed on a party-line vote.12 During the 2025 expansion, Democratic floor amendments to cap the program and re-impose income tests failed along party lines, and not a single House Democrat supported letting more families in.13 Their position is not a tune-up. It is to take these grants away from the roughly ten thousand families now using them.

The Toplines

  • It’s a penny on the dollar. The whole program is about $52 million out of the more than $4 billion New Hampshire spends on schools. A one-percent line item didn’t drive a 20-percent tax hike.
  • These kids never sat in your schools. Almost 97% of EFA families were already in private or home school, and public-school aid still went up $169 million.
  • It’s the cheaper option. About $5,255 for an EFA versus roughly $20,000 to seat that same child in a public school. Choice saves taxpayers money.
  • The money follows the child from the state. The grant comes from the state Education Trust Fund. Your local school budget, the thing that actually sets your tax rate, doesn’t change.
  • It passes its audits. Grant Thornton gave the administrator the highest opinion an outside auditor can give, and Republicans keep adding checks on top.
  • Democrats’ plan is to abolish it. They voted to repeal it and tried to cap it at every turn. This was never about “accountability.”
Keep Reading

The Rest of the Story

Sources

Every claim, cited.

  1. NH Bulletin, “As New Hampshire education freedom accounts double, percentage of low-income recipients drops” (2025) — enrollment (10,510), $51.6M, base grant $4,265.64, 96.7% already private/home — newhampshirebulletin.com
  2. The Heritage Foundation — average grant ~$5,255, about one-quarter of per-pupil cost — heritage.org
  3. NH Journal, “NH Taxpayers Now Spending $20k per Pupil on K-12 Education” — nhjournal.com
  4. NH Bulletin, “As education freedom account program grows, Republicans consider tighter oversight” (2026) — biannual audits, enrollment reconciliation — newhampshirebulletin.com
  5. NH Dept. of Education — EFA funded by the state adequacy grant / Education Trust Fund; families keep paying local taxes — education.nh.gov
  6. InDepthNH, “Education Freedom Account Program to Cost $51.6 Million This School Year” (2025) — indepthnh.org
  7. NH HB 115 / adequacy formula (2025) — base per-pupil $4,266; differentiated aid (free/reduced meals ~$2,393; English learners ~$832; special education; third-grade reading) — legiscan.com
  8. EFA eligible expenses, quarterly installments (20/20/30/30), direct pay or receipts, no cash/gift cards — NH Dept. of Education / Children’s Scholarship Fund NH — edchoice.org
  9. NH Journal, “NH’s EFA Oversight Gets Fiscal Thumbs Up From Independent Auditor” & Union Leader — Grant Thornton clean/unqualified opinion — nhjournal.com
  10. NHPR / NH Bulletin — Sen. Jay Kahn’s EFA repeal bill (SB 432) killed on a party-line vote — newhampshirebulletin.com
  11. NHPR, “NH House votes to remove income limits for Education Freedom Accounts” (2025) — Democratic amendments to cap/income-test failed on party lines — nhpr.org
  12. NH total K–12 public-school spending ~$4.06 billion (2023–24) — NH Dept. of Education data via the Josiah Bartlett Center — jbartlett.org

Get the Facts as They Break

Property taxes and school choice will be front and center this election. We’ll send you the numbers and the rebuttals.