No Closure Cash? A recent trend in urban education has been school closures. New York City recently made headlines for releasing a lengthly list of schools slated to be closed. Philadelphia has made similar news. And Chicago is now deciding which of its "underutilized" schools it will close. A similar thread between all these closures has been the argument that closing schools saves money. But a new study adds to the growing body of evidence that shows this may not actually be true.