Idaho's innovative financing model saves charter schools $113 million and boosts teacher hiring
January 13, 2025 | Education, SENATE, Committees, Legislative, Idaho
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The Senate Education Meeting held on January 13, 2025, in Idaho focused on the state's innovative approaches to supporting charter schools, particularly in reducing facility costs. The meeting featured a presentation by Matthew Joseph from Accelon Ed, a nonprofit organization dedicated to improving education policy. Joseph highlighted Idaho's success in helping charter schools access financing for their facilities, which allows them to allocate more resources toward instruction.
Joseph explained that traditional public schools benefit from local levies and favorable treatment in the bond market, while charter schools often face higher interest rates due to perceived risks. To address this disparity, Idaho has implemented several strategies, including providing per-student funding for facilities and creating a revolving loan fund that offers low or no-interest loans to new charter schools. This support has enabled charter schools to save significant amounts of money, which can then be redirected to hiring teachers and enhancing educational programs.
A study conducted by Accelon Ed revealed that, despite these supports, charter schools in Idaho still need to find an average of $1,294 from their operating budgets to cover facility costs. However, the state's financing initiatives have resulted in an estimated $113 million in savings over 15 years, equating to the preservation of approximately 10 teaching positions per charter school annually.
Joseph emphasized the importance of maintaining strict criteria for these programs to ensure they continue to mitigate risks and support charter schools effectively. He noted that Idaho's model could serve as a blueprint for other states looking to improve their charter school financing systems.
Following Joseph's presentation, the committee moved on to discuss the gubernatorial reappointment of Kurt Liebeck to the State Board of Education, highlighting his dedication and experience in the role.
The meeting underscored Idaho's commitment to fostering a supportive environment for charter schools, aiming to enhance educational opportunities for students across the state.
Joseph explained that traditional public schools benefit from local levies and favorable treatment in the bond market, while charter schools often face higher interest rates due to perceived risks. To address this disparity, Idaho has implemented several strategies, including providing per-student funding for facilities and creating a revolving loan fund that offers low or no-interest loans to new charter schools. This support has enabled charter schools to save significant amounts of money, which can then be redirected to hiring teachers and enhancing educational programs.
A study conducted by Accelon Ed revealed that, despite these supports, charter schools in Idaho still need to find an average of $1,294 from their operating budgets to cover facility costs. However, the state's financing initiatives have resulted in an estimated $113 million in savings over 15 years, equating to the preservation of approximately 10 teaching positions per charter school annually.
Joseph emphasized the importance of maintaining strict criteria for these programs to ensure they continue to mitigate risks and support charter schools effectively. He noted that Idaho's model could serve as a blueprint for other states looking to improve their charter school financing systems.
Following Joseph's presentation, the committee moved on to discuss the gubernatorial reappointment of Kurt Liebeck to the State Board of Education, highlighting his dedication and experience in the role.
The meeting underscored Idaho's commitment to fostering a supportive environment for charter schools, aiming to enhance educational opportunities for students across the state.
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