2 Aspira Charter Schools in Chicago to Close by April

Financial issues force early shutdown, disrupting students' education plans

Published on Mar. 2, 2026

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Chicago Public Schools is shutting down two Aspira charter schools by the middle of the school year due to financial issues the network has faced over the past year. The closures will impact 540 students and dozens of staff, with seniors particularly concerned about the impact on their graduation plans.

Why it matters

The abrupt closure of the Aspira schools mid-year is highly unusual for Chicago Public Schools, raising concerns about the financial stability and oversight of the city's charter school network. The situation also highlights the challenges faced by students, especially seniors, when their schools close unexpectedly.

The details

Aspira Business and Finance High School and another Aspira school in the Avondale neighborhood will close by April, according to school leaders. The Aspira CEO said the network faces a $2.9 million deficit and can only stay open for the next 4-5 weeks. CPS said it has already provided over $2.5 million in additional funding but reached the legal limit under state law. CPS cited a lack of financial transparency and solvency as the reasons for the closure.

  • The schools will close by mid-April 2026.
  • Aspira CEO Edgar Lopez said the schools can only stay open for the next 4-5 weeks.

The players

Aspira of Illinois

The charter school network that operates the two schools slated to close.

Edgar Lopez

The CEO of Aspira of Illinois.

Chicago Public Schools (CPS)

The public school district that oversees the Aspira charter schools and is initiating their closure.

Angelina Mota

A senior at Aspira Business and Finance High School who is concerned about the impact on her graduation.

Arichely Molina

A student at Aspira Business and Finance High School who does not want to transfer to another school.

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What they’re saying

“It's very difficult, especially for us, hearing that credits might not go all the way with us. That our graduation might just be taken back. It's very disappointing.”

— Angelina Mota, Senior, Aspira Business and Finance High School (CBS News Chicago)

“The burden on our seniors has got to be... they don't give a damn about the kids. The seniors.”

— Edgar Lopez, CEO, Aspira of Illinois (CBS News Chicago)

“We're not hiding nothing. The financial documents that they were asking for, Jose told them, we'll have them to you by Friday. Then they send a letter by Thursday. They didn't even give us a chance.”

— Edgar Lopez, CEO, Aspira of Illinois (CBS News Chicago)

“We know we don't want to go anywhere else because we're used to the routine we have here.”

— Arichely Molina, Student, Aspira Business and Finance High School (CBS News Chicago)

“Please let us (stay) open. at least until we graduate.”

— Angelina Mota, Senior, Aspira Business and Finance High School (CBS News Chicago)

What’s next

CPS said their main goal is to ensure the kids have a safety net as they transition to another school. The judge will decide on Tuesday whether to allow the schools to remain open until the end of the school year.

The takeaway

The abrupt closure of the Aspira charter schools highlights the financial challenges facing some of Chicago's alternative public schools and the disruption it can cause for students, especially those nearing graduation. It raises questions about the oversight and accountability of the city's charter school system.