Foreign investors are jumping into the charter game. Last year it was revealed that a group from Turkey was our biggest investor in our Charter School network. Wealthy individuals from as far away as China, Nigeria, Russia and Australia are spending tens of millions of dollars to build classrooms, libraries, basketball courts and science labs for American charter schools.. in Florida, state business development officials say foreign investment in charter schools is poised to triple next year, to $90 million.
Under a federal program known as EB-5, wealthy foreigners can in effect buy U.S. immigration visas for themselves and their families by investing at least $500,000 in certain development projects…. Where is the NSA when you need them?
Anyone can buy a visa for $500,000.
The largest Charter Network in the US, 135 schools with 45,000, is owned by a secret cult from Turkey.
In 2006 our Istanbul consulate noticed that a large number of Turkish men, suspected to be GM-affiliated, were seeking visas to work at charter schools.
Profits from these charters are mostly sent back to the investor’s home country.
“The charter school movement also includes hundreds of small, one-of-a-kind schools, often started by parents seeking a different educational environment for their children. Those mom-and-pop startups have always had a hard time securing funding to build their schools. Many have had to make do with makeshift classrooms in strip malls or church basements.”
These small schools usually fail, taking the education of their students down with it. But large foreign investments are large enough to make a go. One late night comedian got a laugh mentioning it…. ” It used to be our 7-11′s. Then it was our Dunkin’ Donuts.. Now, they’ll be running all our Charter Schools!” The audience roared while he continued teaching math in and Indian accent.
Many Public schools have been around for hundreds of years. Charter Schools are volatile hit or misses.
Missouri regulators shut down six campuses run by Imagine Schools, one of the nation’s largest for-profit charter chains, because of poor academic performance. A judge in California ruled that Aspire Public Schools, a large non-profit chain, hadn’t secured the proper approval for six of its schools and would have to get permission from local boards of education to continue running them. Local officials yanked the charter of a high-achieving middle school in Georgia over concerns about mismanagement.
All told, about 15 percent of the 6,700 charter schools that have been launched in the United States in the past two decades have since closed,
Smart people would think considering all these factors, throwing away public money into the fire of Charter Schools would be a waste, especially considering that Public schools have been doing the job for generations…