The only reason failed public schools stay "in business" is that kids are forced to attend. Let parents choose the public school their kid attend (with transportation provided) and the worse schools will close for lack of students. In parallel, demand will stimulate the creation of charter and private schools. Dumping the Dept. of Ed. would save $200 billion a year.
I love this idea. The only issue I have is that Private Schools will just add $7,500.00 to tuition per year, so it will all be the same.