How big is the PreK-12 public education industry?
When I ask parents this question, the answer I get is a few billion to $20 billion. I am not kidding – we spend almost $700 billion every year in public education! Imagine the possibilities if we could turn this around to make it a $700 billion investment in public education every year!
According to the National Center for Education Statistics (see Public School Revenue Sources), the public school revenue in the 2013-14 school year was $632 billion (=$667 billion in today’s value, adjusted for inflation).
Of this $632 billion total in 2013-14, 9 percent came from Federal sources. 46 percent came from State sources. 45 percent came from Local sources.
Broward County Public Schools in Florida is the 6th largest in the United States. Across the country, there are over 18,200 school districts like Broward County Public School in Florida. In the great state of Texas alone, there are over 1,200 school districts.
Broward County Public Schools in Florida alone serves over 271,500 students. Across the country, there are over 50 million students. In Texas alone, there are over 5.36 million PreK-12 students. Just one state, Texas, serves over 10 percent of students in the country. This means at least 1 out of every 10 students in PreK-12 public education in the United States is served by caring educators in the state of Texas!
Broward County Public Schools in Florida has 234 traditional schools and 93 open-enrollment charter schools. Across the country, there are over 98,000 public schools and 32,000 private schools! Texas has almost 9,000 public schools. Most of these schools are managed as Independent School Districts (ISDs). Some are managed by Charter Management Organizations (CMOs). ISDs and CMOs have elementary schools (PreK-5), Middle schools (6-8), and High schools (9-12). Some ISDs and CMOs have PreK-8 campuses, 6-12 campuses, and Pre-K-12 campuses.
Here’s my plea: Managing other people’s money is a privilege. Let’s work together to make this a $700 billion investment in our children, their future and our communities.