A new study done by policy group Save Our States has discovered that publicly funded charter schools cost taxpayer less money in New York than traditional public schools – by a margin of more than $3,000 per student.
Why the 24-27 percent discrepancy between charter schools and public schools? The report points to teacher benefits:
Pensions and health costs for teachers and other staff are substantially higher for the traditional, unionized public schools compared to charters, which offer their employees 401ks rather than more generous defined benefit plans.
The group’s study directly challenges a New York City Independent Budget Office study from 2010 that suggested the cost gap between charter schools and more traditional public schools was much more narrow.