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How Charter School Chains Make a Profit; by Diane Ravitch

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 'There is no end to ingenuity when no one is watching to grab seven-figure sums in the privatized education sphere  through shady real estate transactions, where their for-profit arms can “obtain revenue from charter schools through lease payments for the use of the facilities.” The authors them gave five stunning examples, where the school’s founders could not stop themselves from grabbing millions.  Some make profits through clever real estate deals, where they buy or lease a space, renovate it at public expense, then charge the state exorbitant rental fees. Some embezzle. Some use their school credit card like an ATM. Some set up “related companies” and divert funds to those companies, which they happen to own. Some hire contractors and get kickbacks'. Read the theft of money from Public schools.

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At dianeravitch.net

 

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I began teaching in 1963,; Ba and BS in Education -Brooklyn College. I have the equivalent of 2 additional Master's, mainly in Literacy Studies and Graphic Design. I was the only seventh grade teacher of English from 1990 -1999 at East Side (more...)
 

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