Charter-School System Bond Deal is Great News for Houston

width=151YES theyll grow HOUSTON CHRONICLE   YES Prep a remarkable chain of charter schools in Houston has shown astounding success at propelling minority and economically disadvantaged kids into college. Most of YES sixth-graders enter at least a year below grade level in math and English. But the school gives them everything they need to catch up and sail ahead: longer school days and years; weekends spent doing volunteer work; excellent highly dedicated teachers; and a school culture that values academic achievement.   Its a point of pride that for nine consecutive years 100 of YES graduating seniors have been accepted into four-year colleges colleges that include Harvard Yale Columbia Rice and Stanford. We need more middle and high schools like that. And we need them as soon as possible:  Right now YES seven schools serve 3500 kids but 6000 more languish on its waiting lists. Thats why a recent deal strikes us as a terrific use of economic stimulus money. Motivated in part by a new federal tax credit that encourages lending to build charter schools Capitol One Bank is underwriting $22.1 million in bonds. With that money YES will build and renovate buildings to open three new schools. The best part? YES will effectively pay less than 1 per year in interest. We repeat: less than 1 not the 6.5 that without the federal tax credit a bank would otherwise have offered. Over 15 years the deal will save YES a whopping $28 million in interest money that will width=159go directly into educating more kids. Usually when we think about stimulus spending we feel queasy about the national debt. But this particular tax credit is a stellar long-term investment. Those three new schools full of hardworking college-bound kids are bound to pay dividends.
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03.13.2025

TEXAS INSIDER ON YOUTUBE

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