Toward Equitable and Adequate Financing of U.S. Public Schools

Abstract

This paper provides an overview of concepts and methods used in analysis of public school financing in U.S. States. I begin by providing an overview of trends in public school financing in the U.S. and addressing what the research tells us regarding how and why money matters for providing high quality public schooling. Next, I address core concepts for framing the goals of education finance systems in U.S. States – specifically, that the primary goal is to provide all children, regardless of where they reside or attend school – with equal opportunity to achieve a common set of measurable outcomes. Next, I address methods and models for estimating the costs to meet these goals and provide descriptive evidence on where U.S. States fall short of these goals, and models explaining how and why U.S. States fail to achieve these goals. I conclude by addressing how the highly decentralized U.S. system of financing schools would benefit from more national involvement.