December 30, 2023 11:49 am
The Year in Review: Dark Money Vouchers Are Having a Moment
First, why are these new voucher schemes such bad public policy? To understand the answer, it’s important to know that the typical voucher-accepting school is a far cry from the kind of elite private academy you might find in a coastal city or wealthy suburban outpost. Instead, they’re usually sub-prime providers, akin to predatory lenders in the mortgage sector. These schools are either pop-ups opening to cash in on the new taxpayer subsidy, or financially distressed existing schools desperate for a bailout to stay open. Both types of financially insecure schools often close anyway, creating turnover for children who were once enrolled.