Can Andre Agassi and a Team of Investment Bankers Improve Education (and Turn a Profit)? – Education – GOOD.

Still not funded by a billionaire, but some new charter schools stand to make a sweet economic situation for some savvy investors.  The plan is that an investment group, that is in the lime light because Andre Agassi is part of their team, is going to set aside nearly $1 billion to fund 75 new schools around the nation.  The idea is that once these schools are fully enrolled that money will go back to the backers through repayment of loans (Liz Dwyer does a good job of explaining the finances in her piece).

As an individual who talks up charters, I am very much disappointed by this news and by these types of investors.  These groups represent the seedy heart of greed that some charter organizations harbor and thwart any good gains the rest of us community schools make.  I am in favor of small, accountable schools that have students’ interest at their heart.  This is exactly who I work for and we are doing well for our students.  You are reading this story because Andre Agassi is an investor.  Think about all of the charters that start up all of the time with the same motives but no Wimbeldon titles to give them ink.  If anything this news leads me to believe that we need to equitably fund charters to prevent such greed, close out for-profit entities, and set up better accountability measures so that all charters are operating with decent funding and can be held to high standards.  -Ed