The findings from this study show that the Public Charter Schools Program is achieving its intended purpose: to provide states with flexible funding to support new charter schools. As can be evidenced by their growing popularity, charters are an important educational option for the nearly three-quarters of a million students who attend them?students who are, according to this report, disproportionately from low-income and minority backgrounds. These schools are popular, because they respond to an unmet need: the provision of freedom and flexibility in the classroom in exchange for accountability for results. They provide real options for families who previously had none, and they demand continuous evaluation of both students and schools. This study is a part of that evaluation process. It provides an overview of the charter school movement; public charter schools program operations;characteristics of charter schools, students, and staff; charter school accountablity and the role of authorizers; charter schools and state performance standards; and directions for future studies. (Contains 41 exhibits and 6 appendixes.)