Posted on: 25 October 2017
Elementary school is a crucial part of a successful education. However, more and more towns are suffering from overcrowded schools but can't afford to expand or build a new one. However, construction bonds can help them expand their educational offerings and benefit the children of their area.
Why Building A New Elementary School Is Beneficial
Overcrowded elementary schools are a serious concern because they may cause children to lack the precious one-on-one time they need to succeed. Those early years are among the most important of a child's future success and lacking a great education can set them back for the rest of their life. That's why so many towns are building larger or completely new elementary schools.
For example, a study of the expansion of the Los Angeles elementary school system found that the quality of education went up when the city added 131 new schools to the area. While a smaller town may not be able to afford this kind of investment, they should consider at least one new school.
The Costs For A New Elementary School Can Be High
As mentioned above, new elementary schools can be expensive to build. It typically costs over $200 per square foot to build a basic school. It also costs about $44,000 per student. As a result, it is possible for some elementary schools to cost as much as $16 million to build. These kinds of prices likely seem gratuitous to most people running a school district.
However, it is possible to overcome this financial burden by seeking out high-quality bonds. These bonds are designed to create a simple way of financing school construction without breaking the bank or causing undue problems with paying back the bonds.
How A Bond Can Help
Towns looking to build a new elementary school can turn to construction bonds as a way of financing its building success. Construction bonds are available from a wide variety of sources and provide a school district with a large amount of money. This can help a town overcome the financial burden of financing a school that they otherwise could not afford.
While this does mean that they'll have to pay back the bond over a period of several years, it is usually set at a reasonable level that the district can afford. The idea behind construction bonds like this isn't to cripple a school district financially but to provide them with the help they need to succeed. That's why it's worth checking into these bonds and seeing how they can help you.Share