{"id":32753,"date":"2025-11-25T13:36:30","date_gmt":"2025-11-25T19:36:30","guid":{"rendered":"https:\/\/citystuff.com\/chicago\/2025\/11\/25\/cps-to-help-aspira-make-payroll-but-charter-operators-financial-woes-remain\/"},"modified":"2025-11-25T13:36:31","modified_gmt":"2025-11-25T19:36:31","slug":"cps-to-help-aspira-make-payroll-but-charter-operators-financial-woes-remain","status":"publish","type":"post","link":"https:\/\/citystuff.com\/chicago\/2025\/11\/25\/cps-to-help-aspira-make-payroll-but-charter-operators-financial-woes-remain\/","title":{"rendered":"CPS to help Aspira make payroll, but charter operator\u2019s financial woes remain"},"content":{"rendered":"

Introduction to the Crisis<\/h2>\n

Chicago Public Schools is helping the struggling Aspira charter school network make its immediate payroll, but the privately run, publicly financed operator still needs more cash to remain open through the school year.<\/p>\n

The Current Situation<\/h2>\n

Aspira CEO Edgar Lopez told WBEZ and the Chicago Sun-Times on Tuesday that CPS is providing a $760,000 advance \u2014 which he says the network will be required to pay back \u2014 to cover Aspira\u2019s next two payroll periods. He previously told the district that he didn\u2019t have enough money to pay his employees this Friday.<\/p>\n

Background on the Issue<\/h2>\n

CPS officials didn\u2019t immediately comment. The district\u2019s assist comes after CPS sent a letter last week accusing the network of \u201ca failure of governance\u201d and \u201ca lack of financial proficiency necessary\u201d to run a school. The district rejected the $5 million bailout requested by Aspira to ensure it remains open through June.<\/p>\n

Impact on the Schools<\/h2>\n

The charter network runs two high schools \u2014 Aspira Business and Finance High School and Aspira Early College High School \u2014 both in Avondale on the Northwest side. Together, they have about 570 students. Aspira also runs a third school, an alternative school that re-enrolls dropouts, through Youth Connection Charter School.<\/p>\n

Student and Staff Concerns<\/h2>\n

Damian Ascencio, a sophomore at Aspira Business and Finance, said he chose the school because it\u2019s in his neighborhood and he heard it was a good place to learn. After finding out last week that the school was in financial straits, he and his classmates have been openly talking about where they might land next.<\/p>\n

Causes of Financial Troubles<\/h2>\n

Lopez, the CEO, has blamed CPS funding and enrollment policies for the network\u2019s financial troubles. Aspira\u2019s financial health has been impacted by declining enrollment, a district-wide trend that has impacted other charter operators. Charter schools get money from CPS for each student they enroll. ASPIRA enrolled fewer students than the charter operator expected this fall, resulting in $1.5 million less funding than planned, Lopez said.<\/p>\n

Efforts to Save the School<\/h2>\n

But CPS officials have taken the charter to task for budgeting based on \u201cunrealistic\u201d enrollment projections. The charter has tried to save money by laying off employees and closing its middle school, but those savings haven\u2019t materialized. Anthony Bates, who works closely with students as a mentor at Aspira Business through the city\u2019s Chicago Youth Service Corps program, didn\u2019t know the school was facing financial collapse.<\/p>\n

Conclusion<\/h2>\n

The situation at Aspira highlights the challenges faced by charter schools in maintaining financial stability, especially when enrollment numbers fluctuate. While the assistance from CPS will help Aspira meet its immediate payroll, the long-term financial health of the network remains uncertain. The impact on students and staff underscores the need for sustainable funding models and effective governance to ensure the continuity of educational services.<\/p>\n

FAQs<\/h2>\n