Public, Charter, and Private schools differ on everything from tuition to admissions to funding formulas. Here are the differences in how essential hardware, software, vehicles, and equipment can be financed at the lowest available rates.
Public School Leasing
Public Schools are open to all, tuition-free and are funded with local tax dollars; often with federal and state assistance. Governments (local or regional) are mandated by law to provide and fund public schools. As part of a municipal or county government, or as an independent school district, public schools enjoy all the same borrowing authority as other municipal entities and are eligible for the same very low, tax-exempt municipal interest rates and terms. Public School leases automatically include non-appropriation of funds language wherever required by law. Vehicles and equipment are titled in the municipal entity’s name upon vendor delivery.
Charter School Leasing
Charter Schools are a special kind of tuition-free public school funded by tax dollars. Charter Schools generally exist under state rules (“charters”) that vary significantly from jurisdiction to jurisdiction. Although charter school leasing
is ultimately funded with tax dollars, legally they are not part of any state, county, or municipal government, rather they generally exist as 501c3 non-profit corporations.
Most significantly (with regard to leasing), a charter school’s continued government funding is subject to periodic review and renewal by the chartering authority. If a school loses its charter, it loses its funding.
Considerations for Charter School Leasing:
- Charter school lease terms cannot exceed the current charter renewal; and
- Lease contracts for charter schools do not include non-appropriation of funds language, rather charter school leases are “firm term” obligations; and
- Charter school leases are priced at our “non-profit” rates.
(Non-profit interest rates are well below commercial interest rates, but somewhat higher than municipal rates)
Private School Leasing – Summarized
- Non-profit, non-government private schools would be eligible to lease vehicles and equipment at our non-profit rates (below commercial, above municipal). Non-appropriation language is not available.
- For-profit, non-government private schools would be eligible to lease vehicles and equipment at our commercial (business) rates. Non-appropriation language is not available.
Let us prepare a quick quote now on any combination equipment & terms. We can have real numbers on your desk today–you’ll know within 60 seconds of receiving our quote if municipal leasing is the best choice for your agency!
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Do You Have Public, Private, or Charter School Leasing Questions?
Call Now 800-541-0114 x-22
(Using your phone? Click to call! Press ext. 22 for School Leasing)