Growth Loan Program: Investors to the Rescue
July 5, 2006
The Wall Street Journal last week reported
on the California Charter School Association's Growth Loan Program coming
to the rescue of many strapped charter school operators, who are often using
their personal assets to finance their charter public schools since the public
school funds allotted to them often gets stuck in the bureaucratic system
for months.
Fortunately,
private investors see the need for their financial assistance. Prudential,
working with the Association, is identifying the most high-need charters and
supporting them through this program. This financial help could not have come
at a better time, as charter schools need to expand to make more high-quality
public school options available for students. Schools like View Park
Prep, with high school test scores that rank eighth out of the 118 high
schools in the
"If the state just gave charters the money they are owed in a timely
fashion and supported charter public school growth with money advances,"
wrote the Wall Street Journal , "Caprice
Young, the president of the Association, would be happy. 'I don't mind them
putting me out of business on this one.'"
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