Charter Schools: Limited Access to Facility Financing

摘要

Charter schools are public schools that are exempt from a variety of local andstate regulations but that are held accountable for improving pupil outcomes. Some policymakers are concerned that difficulties in obtaining funding to construct, lease, or renovate facilities may hinder the growth of these schools. You asked us to (1) determine the degree to which charter schools have access to traditional public school facility financing, (2) determine whether alternative sources of facility financing are available to charter schools, and (3) discuss potential options generally available to the federal government if it were to assume a larger role in charter school facility financing. To answer these questions, we reviewed state charter school laws and reports by various federal, state, and private entities that provided information on charter schools nationwide, including 'The State of Charter Schools 2000' issued by the Department of Education. We interviewed experts who have a national perspective on these issues. To obtain more detailed information about how charter schools finance their facilities, we also interviewed officials in eight states-Arizona, California, Colorado, Florida, Michigan, Minnesota, North Carolina, and Texas-that account for more than 60 percent of all charter schools. In addition, we interviewed federal officials, private lending companies, and major credit rating agencies about facility financing options for charter schools.