Home schooling ... yay or nay???

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So, I got a flyer in the mail today. Our state is starting a new program where children can school at home free of cost. I am sorting through the pros and cons of this, and was wondering if anyone has tried this before, and what is your take on it. The program has certified teachers via the internet, phone, and in person. I would be their learning coach. I like that each student gets a personalized learning plan, and one-on-one attention. They even have opputunities to socialize on field trips and through activities and clubs. With the way public schools are becoming violent and over crowded I am thinking this may not be a bad idea. Not to mention the money we would save (school lunches, field trips every other week, fundraisers, clothes and supplies) I am just worried that this may effect my children in a negative way. If anyone has any thoughts or experience on this subject; your opinions are appreciated.