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voucher system

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noun
  1. Accounting. a procedure for controlling disbursements by means of vouchers.
  2. Also called voucher plan. Education. a plan in which each school-age child receives a publicly funded entitlement worth a fixed amount of money with which his or her parents can select a participating public or private school.
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Origin of voucher system

First recorded in 1880–85
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2018