Virtual Charter Industry Expecting Big Growth and Profits Due to Pandemic
The virtual charter industry is anticipating growth in enrollments and profits, thanks to the pandemic.
The largest of the virtual charters is the K12 Inc. virtual charter chain, listed on the New York Stock Exchange, whose revenues exceeded $1 billion this year.
Executives haul in big salaries (one of K12’s founders, Ron Packard, was paid $5 million a year but has since moved on to lead other charter chains). Michael Milken was an early investor in K12 and Bill Bennett was a prominent leader until he made racist remarks that caused him to be removed.
The most important thing to know about virtual charter schools is that they have dismal track records. They enroll as many students as possible through heavy advertising and marketing, but their graduation rates are low, their test scores are low, and their attrition rates are CONTINUE READING: Virtual Charter Industry Expecting Big Growth and Profits Due to Pandemic | Diane Ravitch's blog
