Share on Google Plus 1 Share on Twitter 1 Share on Facebook 2 Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend (4 Shares)  

Printer Friendly Page Save As Favorite View Favorites (# of views)   1 comment, 6 series

Philadelphia: Some Charters Spend More on Facilities Than on Instruction

Quicklink submitted By   Follow Me on Twitter     Message Susan Lee Schwartz     Permalink
Related Topic(s): ; ; ; ; , Add Tags

View Ratings | Rate It

opednews.com

From flickr.com/photos/29143375@N05/3425048542/: Old and New
Old and New
(Image by Gamma-Ray Productions)
  Permission   Details   DMCA

An investigation in Philadelphia finds that some charters now spend more on paying down the debt of lavish facilities than they spend on instruction. "There's no real scrutiny of these deals, and charters end up saddled with big fixed costs. Charter schools used to inhabit repurposed supermarkets or old storefronts, but a Philly.com analysis of bond documents showed that one out of three charters today - have bought or constructed newer and larger school buildings with tax-exempt bonds, paying millions in debt and fees to consultants along the way... Bonds - school debt sold to investors who are gradually paid back with interest - have become popular among charters because they allow lower borrowing costs than standard commercial loans."This leaves charters spending more education dollars on interest payments  - at rates that are double or triple what the district pays."

Read the rest of the story HERE:

At dianeravitch.net

- Advertisement -
- Advertisement -

Other Series: View All 427 Articles in "Access: the POWER of MONEY"

Other Series: View All 176 Articles in "15,880 Districts in 50 States: already divided for conquering."

Other Series: View All 154 Articles in "PRIVITIZATION."