Our Schools are Trapped in a Cycle of Private Loans and Massive Debt
Corporate loopholes and regressive taxation systems across the nation have forced many public schools to turn to predatory bond markets in order to secure the funding they desperately need. But this private funding comes at a major cost, and puts the future of our students in the greedy hands of the private market.
Bond markets demand higher fees from “riskier” low-income districts, denying already underfunded POC communities the ability to serve their students’ specific needs. It is time for federal and state governments to step in and break this cycle of debt and inequality. We must direct more relief funding towards public education, and ensure that schools prioritize racial justice and educational equity over the demands of private lenders determined to bleed them dry.
By Eleni Schirmer, NY Times | 8/27/2021