More than likely, the result will be that families with sufficient means and resources will be able to supplement their vouchers and send their children to good schools. Another likely result is that because of the constitutionally mandated separation of church and state, religious schools will not be able to participate in the voucher program. They will set their tuition rates so as to maximize profits just as insurance companies now set health insurance rates in order to maximize profits. They will accept or reject children based on profitability, just as our health insurance corporations accept or reject a customer based on profitability. Education will be subordinated to profit just as health care is now subordinated to profit.
Vouchers is a terrible idea.
The only winner in the voucher game will be Wall Street. Our children will be the big loosers. We can solve the school funding problem by shifting the burden from regressive local property taxes to the more progressive federal income tax. In this way, school funding per child can be equalized across all school districts, with extra funding for special needs children and special needs districts. In addition, this change in funding source will provide needed tax relief to home owners and renters alike.