Social Impact Bonds (Pay for Success): Yet Another Privatization Scam

Social Impact Bonds (Pay for Success): Yet Another Privatization Scam
by janresseger
For those of us who know more about public education than Wall Street investment schemes, Valerie Strauss and Kenneth Saltman (education writer and professor at the University of Massachusetts, Dartmouth) did us a favor last week. In her Washington Post column, Strauss published a column by Saltman explaining simply and clearly what Social Impact Bonds are, how they are now privately funding education projects at public expense, and problems with these investment instruments…janresseger | September 23, 2016 at 7:45 am | Tags: danger of privatization, Kenneth Saltman, Pay for Success, Social Impact Bonds | Categories: Danger of Privatization, Equity & Opportunity to Learn, Keeping Public Education Public | URL: http://wp.me/p3JgEc-2VR

janresseger

For those of us who know more about public education than Wall Street investment schemes, Valerie Strauss and Kenneth Saltman (education writer and professor at the University of Massachusetts, Dartmouth) did us a favor last week. In her Washington Post column, Strauss published a column by Saltman explaining simply and clearly what Social Impact Bonds are, how they are now privately funding education projects at public expense, and problems with these investment instruments.

In her introduction to Saltman’s column, Valerie Strauss’s describes the use of Social Impact Bonds for funding education projects: “Within the 2015 Every Student Succeeds Act, the K-12 education law that replaced No Child Left Behind, is a provision that provides for the use of federal funds by states and school districts for something known as ‘Pay for Success.’ The Obama administration has actually been funding Pay for Success programs in education and other areas for years…

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