This is a unique idea. Since parents have invested in College annuities, maybe they should begin with 1st thru 12th grade as well. I expect there is an allocation "per student" cost that can be assessed State to State...and probably school district to district.... A set amount should follow the student.which could be used in parochial or public school.
Or get the federal government out of education completely. If communities paid for their own schools with no federal grants or other federal funds or rules, it wouldn't cost $10,000 a year to educate one student.