C.,
I can't really imagine that there are other options between:
1)public school; 2)private school; and 3) homeschool.
Have you visited any of the private schools in our area? They are not as expensive as I had expected--especialy St. Catherine's. Also, what about scholarships to a private school? Or maybe one of you could volunteer or work part time at the school for a tuition break?
If private school truly is not affordable, what about re-considering the public schools--if you are displeased with your elementary, there are 7 others in this school district! You can make a request (which is nearly always granted if you give them a reason) to go to a different school still within the district. It seems to me that if you have a great teacher (and if you dislike your child's teacher, you can also request a different one; each level has 2-4 classes), everything else seems to fall into place.
We are also in the HM school district. We are working on getting our home on the market so we can (hopefully) get out of here before our oldest hits middle school. We have found that our teachers, for the most part, have been very good. We have had problems with our school, but when the problems arise, we take care of them by talking to the principal and teacher and whoever else may be involved. Though I do want to move my family to a more rural school district, I know that when I do, we will be in culture shock again because the rural districts will not have all the resources and programs available in a larger school district such as HM. Private schools often have the same limitations as smaller, rural school districts.
Also, if you are concerned about the public schools but can't make private schools or homeschooling work, your best defense is to get to know everyone at your child's school really well--join PTA, even if you don't have time to be super-involved; speak to your child's teacher frequently; chat often with the principal; get to know your child's classmates and their parents--problems are more easily solved when you *know* the people they involve. I know it's tough to figure out what to do. No matter how good our teachers may be, I still worry about the influences my children are around at school. Schools cannot fix all the problems some of the children have and even a good school has bad teachers and good teachers have bad days. take care and good luck.