The funding of schools may seem to be like a straight forward activity but there is more than that. The discussion below will help you get the idea of how it is done.
School funding in the simplest explanations is money set aside for learning institutions to offer them support on their daily operations. The sources of these funds may vary according to different factors like the student population and many others. Sometimes one may wonder how much money a school normally receives and how the institution utilizes it.
A private school is one that does not receive government support and the parents normally raise money to support all the requirements of the child while they are at school. Parents are obliged to raise money for their child’s education. Since private schools are not liable to receive public funding, they are required to meet the same level of accountability as public schools do – read article on advantages of private schools over government schools.
This will include the student-teacher ratio and state-mandated testing. The funding of private schools normally comes from a few sources. They include the following;
-Endowments- these are funds given to the school by well-wishers, companies, and individuals in the form of endowments. They are like a gift to the school and most companies do this as a way of showing their co-corporate social responsibility (CSR). Private schools mostly look for these companies for the support they receive is usually very vital and helps the institution in running smoothly.
-Tuition- in contrast to public schools, private schools normally require the parents to pay school fees to enable the child to be accepted for learning. Tuition fees can be termed as the calculated amount of money required for a child to attend school. The amount of money the schools ask for hugely depends on the kind of school and where it is located.
-Fundraisers- you can find children knocking at your door selling some wrapping papers or cookies. These are normally students trying to raise some money to meet their school fees target. These private schools do usually receive some money n fundraising events organized by well-wishers and the community at large.