Privatization has grown tremendously in the field of education in India to meet the growing demands for education in society. Privatization of education refers to the transfer of provision of education from the state to private providers with the overall policy goals- (i) Increasing access to and participation in basic education, (ii) Improving learning outcomes and overall efficiency and (iii) Improving equity in educational opportunities (Pedró, et al., 2015). School Education plays an important role in shaping the future of the nation by facilitating all-round development of the student. Keeping in view the increasing popularity and rapid growth of a number of private schools and contributions it made to society also comes with its problems. It is equally important on pragmatic grounds to examine the move towards privatization and its problems. In light of this, the present paper attempts to analyse the problems and prospects of privatization of school education as perceived by parents, teachers and students with special reference to Churachandpur District, Manipur.