Public schools would experience a reduction in foundation allowance payments equal to $880.9 million. Using the $8,755 estimate for average short-run variable costs per student, the estimated cost reduction related to 101,250 students leaving equals $886.4 million (= 101,250 x $8,755).
The net fiscal impact on public schools is a short-run fiscal benefit equal to $5.56 million (= $886.44 million - $880.88 million), or $50 per ESA.