III. Industry Analysis
The private schools industry has experienced steady growth in the past five years. The key industry drivers are economic growth, the rise in numbers of K-12 students, an increase in the number of families with both parents working, and government initiatives to support education.
In recent years, school choice programs have garnered support from state legislatures across the country. Currently, private school choice programs include voucher programs, education savings account programs, scholarship tax credit programs and individual tuition tax credits.
In general, the proliferation of these school choice programs makes private schools more accessible to a greater number of students, bolstering industry revenue growth.