A handful of SC charter schools — finally in new school buildings — are poised to pay out millions in taxpayer dollars to middlemen, developers and foreign investors who want green cards.
The money, paid in the form of high-interest rent payments on the new school facilities, has some critics saying that the state’s taxpayers are getting duped. Money they believe is paying for SC students’ education is instead going to this relatively new network of out-of-state players who are charging high interest rates, as well as wealthy Chinese nationals searching for a quicker path into to the country.
And it’s all happening with federal government approval.
“They were taken for a terrific ride and are paying this high interest rate. It’s remarkable,” said David North, a fellow with the conservative Center for Immigration Studies in Washington D.C. “They could end up paying more in interest than the (cost to construct the school).”
Figuring out just who is getting paid what is complicated and is not readily available in one place. Take, for example,Lowcountry Montessori School in Port Royal, a charter school that serves about 400 students in preschool through the 11th grade.
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