This research explored the implications of state-funded secondary education policy for private school management in Ghana. The research used the qualitative approach relying on the phenomenological design. Based on expert and modal purposive sampling techniques, a representative of Ghana's Ministry of Education, and 10 managers of 10 accredited private senior high schools in one of the country's regions took part in individual interviews. I analyzed the data using interpretative phenomenological approaches. Falling enrollment, inability to recruit enough qualified teachers and low revenue emerged as challenges facing private secondary school management. To overcome the issues, the managers resorted to contingency measures.