The paper examines the current state of funding of school education in India and identifies the inefficiencies and arbitrary nature of allocation of the system and suggests an alternative per-child funding model. The paper argues for the model on the basis of school choice and decentralized school administration, which would result in schools competing to be efficient in spending to attract/maintain students. The paper draws from such existing models in countries like Canada, Netherlands and UK while using the San Francisco School District's model as a detailed case study to further strengthen the argument for such a per-child model of funding.