A special meeting of the Stormont Education Committee has been called for Monday.
The Chairman of the Assembly Education Committee, North Antrim DUP representative Mervyn Storey said the meeting would further discuss the current proposals to change the Common Funding Formula.
He said: “This is one of the most serious issues currently facing Education. I have been inundated with correspondence from schools right across the country and across sectors expressing concerns about the reduction in their budget. This is just not limited to one sector.
“Given those concerns and following on from the debate in the Assembly last week I am recalling the Education Committee to seek an extension of the time for public consultation.
“We need to spearhead a process which will also consider other ways, not just free school meals, as the best way to ensure that funding is directed to schools and those children in educational need.”