As part of his five-point proposal to reform schools, Chris Whittle, founder of Edison Schools, proposes that we create five 'principal universities.' As Whittle notes, these would be the equivalent of the Air Force Academy, West Point, and Annapolis but for K-12 school principals. Each would serve approximately 3,000 students, whose tuition and expenses would be fully covered.
Whittle believes that these universities 'could dramatically enhance school leadership in the United States' (he's got a similar idea to create five new teacher colleges too). It's an interesting idea. I'll have to think about this one a bit.