Q. Can Virginia homeschoolers use Coverdell Education Savings Accounts for homeschool expenses?
A. Public, private, and homeschool families can use Coverdell Education Savings Accounts to save for college costs. At the present time, however, ESA funds can only be used for K-12 public or private schools. There are only 14 states in which home education is considered private education—regrettably for this purpose, Virginia is not one of them.
22.1-254 (A) Instruction in the home of a child or children by the parent, guardian, or other person having control or charge of such child or children shall not be classified or defined as a private, denominational, or parochial school.
Therefore, in states like Virginia where a homeschool is not considered a private school, the funds CANNOT be used for homeschool educational expenses. For Virginia homeschoolers, a Coverdell ESA can only be used for college costs.