Elite private and charter schools across Washington got millions in PPP loans - The Washington Post

Elite private and charter schools across Washington got millions in PPP loans - The Washington Post

Elite private and charter schools across Washington got millions in PPP loans

Dozens of publicly funded charter schools and elite private schools across the Washington region received millions of dollars in federal aid intended to keep nonprofits and small businesses afloat during the coronavirus pandemic, according to data released Monday by the Small Business Administration.

Private and charter schools have faced criticism for taking the relief money during an economic crisis while major funding streams — tuition dollars at private schools and per-student government funding at charters — have not stopped flowing.

Monday’s disclosure provides the most detailed picture yet of how much money the schools received from the historic stimulus package known as the Paycheck Protection Program, which offered loans that can be forgiven if companies and nonprofits prove that the money helped save jobs.

Private and public charter schools said that they are legally entitled to the money and that it is a necessary infusion, with private donations drying up and enrollment numbers unclear for the next academic year. They need the money, they said, to ensure they can keep all of their employees on their payrolls.

Despite pushback, Sidwell and other D.C. -area prep schools say they are keeping their PPP loans

The government data indicates that more than 25 of the District’s 63 charter networks received a loan, while many big-name private schools in the region also received one. The loans ranged between $150,000 and $10 million. The PPP disclosure did not include businesses that received a loan smaller than $150,000, which accounted for more than 80 percent of loans distributed across the country.

“It’s important to realize the uncertainty exists,” said Shannon Hodge, executive director of DC Charter School Alliance, the city’s leading charter advocacy organization. “We know that costs will go up, but more importantly, there are lots of things that are unknown. . . . This program allows them to bring some stability to this uncertain situation.” CONTINUE READING: Elite private and charter schools across Washington got millions in PPP loans - The Washington Post