Charter Schools Get $250 Million Boost
Initiative from Walton Family Foundation aims to help the schools secure facilities
Aiming to boost the growth of charter schools in cities nationwide, the Walton Family Foundation plans to announce a $250 million initiative Tuesday to help charters build and expand their sites.
A major obstacle to starting charters is finding space, and many divert money from instruction to pay for facilities. Foundation officials said most of the money will go toward low-interest loans, offered by nonprofit lenders, for which charters will be able to apply—funding that can otherwise be hard for them to get.
The foundation anticipates the plan will help add charter seats for 250,000 U.S. children by 2027. Charter officials and advocates say they currently serve about three million children, including 120,000 in New York, 41,500 in New Jersey and 9,300 in Connecticut.
Supporters hailed the philanthropic investment as a boon for families demanding quality choices. But it is sure to spark an outcry from teachers unions and other critics who say charters siphon resources from their home districts and often fail to serve their fair share of the hardest-to-teach students.Charter Schools Get $250 Million Boost - WSJ:
