A charter school is a public school, open to any student who applies. Charter schools are required to meet state academic standards, but are allowed to operate free from many regulations that apply to other public schools, allowing for greater academic flexibility and innovation in the classroom.

Charter schools are required to run a random lottery to enroll students. If there are more applicants than seats in the school, the school has to keep a waiting list. Schools aren't allowed to: 1) save seats for any category of student; 2) give preference to children of staff or board; or 3) administer admissions tests or screenings. On the other hand, schools can give preference to the siblings of enrolled students.

Contract schools are a special kind of independent public school. They can only be operated within Chicago, and the operators must obtain a contract from the Chicago Public School system outlining how their school will be operated. A contract is a different document from a charter accountability agreement, and contract schools don't have as much freedom as charter schools in setting curriculum or defining educational design.

Magnet schools have highly selective academic standards, requiring students to take entrance exams and meet a determined quota. Magnet schools can also require auditions or other methods for students to demonstrate specialized talents, whereas charters can't. Charter schools don't require any testing for entrance; however, both charter schools and magnet schools must require students to meet state and district academic standards, as well as to take state- and district-mandated tests.

Charter schools employ highly qualified, dedicated teachers to educate students. Classes are engaging and kept at a small student-to-teacher ratio. Charter school teachers can immediately respond to current academic conditions with flexibility in scheduling and curriculum creation to allow maximum success for their students.

Additionally, charter school leaders can design curriculums and set educational goals that best reflect the needs of their school's student population. Schools can have longer days, longer years, or Saturday classes. They can schedule in blocks of time to give greater emphasis to specific subjects, and they can incorporate parent involvement in core curricular activities. Additionally, charter schools can integrate core studies with extracurricular activities, such as math programs that incorporate music or a high school curriculum that includes internships.

Charter schools can also require students to create presentations, maintain a portfolio, or report on their activities as part of the school's formal evaluation and grading process, allowing students to become more connected to their own academic growth.