What is the purpose of a "voucher system" in education finance?

The purpose of a "voucher system" in education finance is to provide funds for students to attend schools of choice. This system allows parents to use government-provided vouchers to help pay for tuition at non-public or charter schools, thereby enabling increased flexibility in educational choices. The fundamental idea behind this approach is to foster competition among schools and expand options for students and families, particularly in cases where they may feel that their local public school does not meet their educational needs.

In a voucher system, funding is typically redirected from public school budgets to support these individual students, allowing them to enroll in schools that better align with their educational requirements or personal preferences. This method of financing education is based on the premise that empowering parents to choose their schools can lead to improved educational outcomes and accountability among schools.