In 2024 schools aim to continue to invest in education technology, such as student devices, security equipment, interactive panels, and more. However, budget restraints and a “fiscal cliff” are hampering this effort, as we are seeing the imminent end of billions of dollars in federal COVID relief money that schools have been relying on during the pandemic. Equipment lease financing is a tool schools can use to alleviate the impact of the fiscal cliff.
“Pre-pandemic the focus was always on schools carefully allocating available funds to competing capital projects” said Michael Lockwood, President of TEQlease Education Finance. “As 1-to-1 device adoption exploded during the pandemic to accommodate remote learning, schools had federal funds to manage full student computer deployments. Now many of these student computing devices must be replaced and refreshed. In addition, as school safety and security needs become paramount, schools want to invest in comprehensive security to protect students.” However, schools across the country are seeing budgets shift from flush to strained as billions of pandemic aid runs out, putting at risk programs added with Covid-relief funds.
With large competing necessary projects, schools must find a way to pay for the capital projects they need. “All school equipment can be financed or leased, spreading the cost over 3 to 7 budget years depending on the type of equipment”, Lockwood continued. In addition, where technology obsolescence is a concern, schools can select to lease rather than finance.
TEQlease Education Finance specializes in providing best-in-class equipment lease financing solutions for public, private, charter, and religious schools across the United States, focusing on providing unparalleled service and lowering acquisition finance costs, working with customers and equipment vendors through the entire equipment acquisition financing process. TEQlease Education Finance leases and finances all types of school equipment to all types of schools, nationwide. Assigned territory account managers have closed many education transactions and have experience in your state; they are dedicated to helping schools get technology into the classroom on competitive, budget friendly terms. TEQlease Education Finance is a division of TEQlease Capital, founded in 2000 in Calabasas, California. For more information, visit https://www.teqlease.com/education_equipment_financing