Since 1998, Americans have paid more than $8 billion in assessments on their telephone bills to help provide schools and libraries with discounted access to the Internet, as well as to support investments in networking infrastructure. In this brief article, the author argues that now more than ever, it is important for school officials to pay close attention to the E-rate program's rules and requirements in order to help ensure that this significant funding source for school technology is not disrupted. So far, support remains strong for the more than $2.25 billion of discounts for which the E-rate program is authorized. Nevertheless, it is important for school leaders and their vendors to be mindful that the media, taxpayer watchdog groups, and some on Capitol Hill and within the Federal Communications Commission have raised thoughtful concerns about the potential for waste, fraud and abuse within this important program.