The problem(s) with Bloomberg’s $750 million investment in charter schools
By Diane Ravitch and Carol Burris
Mike Bloomberg recently announced his plan to revive American public education, which he says is “broken.” His fix for a system that enrolls more than 50 million students? He will spend $750 million to expand charter schools to 150,000 students in 20 cities over the next five years.
The former New York mayor is a smart businessman. He must know that moving 150,000 students into charter schools won’t transform the public schools that enroll the overwhelming majority of students. The likeliest effect of his gift will be to drain resources and students from the public schools still struggling to recover from covid-19. This would make matters worse for the 50 million students who don’t receive his beneficence, and it’s unlikely to help most of the 150,000 who do.
Bloomberg tells us that he will not fund just any charter school. He announced that his donation would fund only high-quality charters — the same promise made by the federal Charter Schools Program that has wasted about $1 billion on charters that never opened or failed.