The Chicago school district will begin transferring about 540 students from two high schools in the ASPIRA charter network, as the campuses confront deep financial turmoil and a possible midyear closure.
The Chicago Tribune reports that the charter network is facing a $4.8 million deficit and may be unable to meet payroll through the end of the year.
District officials say they are “moving forward with a student transition process as oversight,” citing the operator’s “failure to demonstrate financial sustainability, which places the education of ASPIRA’s students at risk.”
ASPIRA operates two high schools on Chicago's Northwest Side — ASPIRA Business & Finance High School and ASPIRA Early College High School. Both are predominantly low-income and Latino.
Despite its financial woes, ASPIRA has told the district it does not plan to initiate self-closure, and that its “priority remains maintaining continuity of instruction.” ASPIRA officials said they are pursuing a short-term loan and fundraising campaigns.
Since November, the district has provided $2.55 million in advances to ASPIRA to make payroll. But on April 10, the district will reach a state-mandated funding cap, which limits how much can be allocated to the network. That means ASPIRA’s campuses can no longer rely on the district for financial support.
Conrad Timbers-Ausar, the district’s acting chief portfolio officer, says students who opt to transfer will have a guaranteed seat at a nearby district-run high school.
ASPIRA’s financial crisis is the latest within Chicago’s charter sector. In November, the district allocated $1.4 million to keep EPIC Academy open through the school year. Earlier in 2025, the school board voted to absorb five of seven schools in the Acero network slated for closure — costing the district at least $30 million this fiscal year.
The Chicago High School for the Arts is also transitioning to a district-run magnet school, after its operator announced that it would not renew its contract amid financial woes.
