Chicago Public Schools to Close Two ASPIRA Charter High Schools

The district cites financial insolvency as the reason for the unprecedented mid-year shutdowns.

Published on Feb. 27, 2026

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Chicago Public Schools (CPS) has announced the impending closure of two ASPIRA charter high schools, citing the schools' severe financial shortfall and inability to secure the necessary funds to stay open beyond April. This marks the first time in Chicago's history that CPS has decided to close schools mid-academic year.

Why it matters

The closure of these two ASPIRA schools, which serve over 570 students, highlights the financial challenges facing charter schools in the city and the difficult decisions CPS must make when a charter network is unable to sustain operations. This decision could set a precedent for how CPS handles future financial crises at charter schools.

The details

ASPIRA, the charter network that operates the two high schools, is grappling with a nearly $5 million budget deficit. CPS has already provided over $2.5 million in additional funding to help sustain the schools, but says it has reached the legal limit of funding it can provide under Illinois law. ASPIRA's leadership plans to appeal to the district on Friday, seeking financial assistance to avert the closures, but CPS says the charter network has not provided the required financial documents to outline a clear path forward.

  • CPS announced the impending closure on February 27, 2026.
  • The schools are set to close by the end of April 2026.

The players

Chicago Public Schools (CPS)

The school district that oversees public education in the city of Chicago, including both district-run and charter schools.

ASPIRA

The charter school network that operates the two high schools slated for closure due to financial insolvency.

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What they’re saying

“We must pursue every avenue to keep these schools open and serving our students. We will continue to work with ASPIRA to find a solution, but the financial realities are stark.”

— Janice Jackson, CPS Chief Executive Officer (ABC7 Chicago)

“We are exploring all options, including short-term financing and fundraising campaigns, to try to finish the school year. But the path forward is uncertain.”

— Juan Rangel, ASPIRA CEO (Newsfinale Journal)

What’s next

ASPIRA's leadership plans to appeal to CPS on Friday, February 28th, seeking financial assistance to avert the closures of the two charter high schools.

The takeaway

The closure of these ASPIRA charter schools highlights the financial fragility of some charter networks and the difficult decisions CPS must make when a school is unable to sustain operations. This situation could set a precedent for how the district handles future charter school financial crises, raising questions about the long-term viability of the charter school model in Chicago.