| School spending skyrockets despite enrollment drop |
According to a new analysis from the Reason Foundation, school districts across the U.S. have significantly increased spending since 2020, despite a decline in student enrollment and academic performance. The report reveals that public schools are nearing $1tn in annual spending, with per-student spending rising from $14,969 to $20,322 between 2002 and 2023. California, spending $25,941 per student, has seen a 31.5% increase since 2020, even as it lost over 318,000 students. The report highlights that teacher pension costs and a focus on equity over academic rigor are contributing to the challenges facing public schools. Aaron Smith, director of education reform at the Reason Foundation, emphasized the need for policymakers to address structural issues in K–12 finance to improve academic outcomes.