This study explains the implementation of the government voucher subsidy from the perspective of a private school administrators. It examines how the program supports student enrollment, sustains school operations, and ensures compliance with regulatory standards. A total of ten participants are considered in this study who will join the in-depth interview and focused group discussion respectively. Five of them will join the in-depth interview while the remaining participants will be subjected to the focus group discussion. Phenomenological research is the main basis in gathering all information’s in this study since it involves understanding the universal experience through interviews with subjects and examining their views about their experience. The result emphasized how the subsidy can be effectively managed while addressing the challenges and opportunities associated with it. The outcome disclosed that the program greatly improves private education accessibility and provides financial support to schools, but its effectiveness is impeded by a number of challenges. It discusses how administrators understand the increase in student enrollment and financial support, but worry about the delayed fund disbursement, strict compliance, and ambiguity of the long-term sustainability. These limitations result in operational challenges which hinder school budgeting and resource allocation. The study provides implications of these findings to some policymakers, educational institutions, and stakeholders.