Education voucher, also known as education voucher, is a token voucher used in the field of education. Milton friedman, a famous American economist, first put forward the theory of education voucher in the article "The Role of Government in Education", and then further explained this theory in the book "Free Choice-Personal Statement". According to Friedman's theory, we should change the way that the government directly subsidizes the education investment of public schools, turn the funds into vouchers and distribute them to every student. With vouchers, students can freely choose which school to attend, public or private (any school recognized by the government). After receiving the education voucher, the school can exchange the education funds equivalent to the value of the education voucher from the government. Education vouchers enable schools to compete with each other because of students' choices, thus improving the overall quality of education and the efficiency of government public investment in education.

Specifically, there are two main theoretical models of education vouchers: one is efficient education vouchers, that is, equal education vouchers are distributed to every student, that is, non-exclusive models; The other is a fair education voucher, which advocates giving special subsidies only to low-income people or families with special needs to reflect the principle of social equity, that is, the mode of excluding the rich. Friedman's education voucher model pays more attention to efficiency and belongs to efficiency education voucher.