Advantage Academy becomes one of the first charter schools in Texas to access Permanent School Fund guarantee
Eagle Advantage Schools, Inc., a 501©3 non-profit organization which operates Advantage Academy and its three public charter school sites, has become one of the first in Texas to access the Permanent School Fund (PSF) guarantee. Advantage Academy currently has over 1,700 students enrolled in grades pre-kindergarten through 12th grade.
The Permanent School Fund operated by the Texas Education Agency guarantees bond issues to Texas public schools, allowing districts to borrow at a substantially lower interest rate. The PSF guarantee was previously reserved for traditional public schools only.
Over $23 million in PSF backed bonds were recently sold in order to refinance existing debt incurred on the District’s Administration facility and Resource Center, and the campus in Grand Prairie. The bond fund will also allow the school to purchase a new campus facility, land, and to plan needed renovations.
The Superintendent of Advantage Academy, Mrs. Angela McDonald said, “Receiving these new funds will help us appropriate more money on instruction and training, thereby increasing our level of quality and service to the community.”