The rapid rise in interest rates, combined with healthy reserves coming out of COVID, may provide an opportunity for charter schools to purchase their own outstanding debt and invest in themselves if they have public fixed rate bonds outstanding. Due to lower bond valuations and the liquidity needs of funds/investors, these bonds may be potentially purchased at a discount to their face values. This could present an opportunity for charter schools to reduce outstanding debt and annual debt service, enhance financial stability, and achieve greater refunding savings and more flexible terms.