State-backed loans, philanthropic matches save Idaho charter schools an estimated $113 million, presenter says

Summary

A national policy adviser told a legislative committee Idaho's revolving loan fund, credit enhancement and private matching have reduced charter-school borrowing costs, producing roughly $113 million in savings and freeing funds for instruction; lawmakers discussed funding caps and per-student facility aid.

Matthew Joseph, senior policy advisor for education funding at AccelinEd, told a legislative committee that state-backed financing programs and private matching have sharply reduced borrowing costs for Idaho charter schools and freed money for classroom expenses.

Joseph said the state has incurred no net cost so far and that "the total savings so far" for charter schools amounts to "$113,000,000." He told lawmakers those savings translate into reinvestment in instruction, estimating that the average charter school could support the equivalent of "10 additional teachers" with the money saved on facilities financing.

The presentation summarized how two complementary state policies have worked together: a revolving loan fund that offers short-term no-interest loans during a school's early years, and a later-stage credit enhancement or "moral obligation" support that lowers long-term bond financing rates. Joseph said private philanthropy, including a matching contribution from the Albertson Foundation…

State-backed loans, philanthropic matches save Idaho charter schools an estimated $113 million, presenter says

Summary

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