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A Looming Financial Meltdown For America’s Schools

NPR |

With the nation’s attention still fixed on the COVID-19 health crisis, school leaders are warning of a financial meltdown that could devastate many districts and set back an entire generation of students. Schools receive nearly half of their funding from state coffers.

But with businesses shuttered in response to the pandemic and the unemployment rate already nearing 15% — well above its 10% peak during the Great Recession — state income and sales tax revenues are crashing.