Charter Schools: Moneymakers for Hedge Funds
(Amsterdam News) — As the controversy about the co-location of charter schools continues to rage throughout the city, another issue has been raised: Hedge funds are making tremendous profits off charter schools while public school students lose already-scarce dollars because of the presence of the schools. The charter school movement represents only a tiny fraction of the more than one million students in the New York public school system. But because of the charter school presence, hundreds of thousands of regular New York City kids are getting fewer dollars. In a recent report by the New York City Independent Budget Office (IBO), it was revealed that money being spent on charter schools is being diverted away from regular schools. As more charter schools are created, more money is pumped into the charter school movement.