Did charter schools game the system? Many cashed in on forgiven PPP loans they didn't actually need

[Yo_Mama_Been_Loggin]

America's charter schools received at least a $1 billion windfall during the pandemic, an unneeded cash infusion for most from a federal program intended to bail out struggling small businesses, USA TODAY has found.

More than 1,000 of the publicly funded but privately operated schools that educate a fraction of U.S. children jumped at the chance to collect forgivable loans up to $10 million after Congress created the Paycheck Protection Program in March 2020.

The hastily launched program was designed to save small businesses during the pandemic by helping them cover employee salaries and other costs.

While more than 90% of all eligible businesses across the country took the roughly $800 billion in loan allocations, charter schools were among the first to get the money – ahead of mom-and-pop shops and minority-owned companies – during the early days of the crisis when the economy was cratering and many business owners scrambled to get a financial lifeline.

https://www.msn.com/en-us/money/smallbusiness/did-charter-schools-game-the-system-many-cashed-in-on-forgiven-ppp-loans-they-didnt-actually-need/ar-AAVhXwJ

[Martin68]

2. Of course they gamed the system. That's what for-profit educational services are all about.

[Igel]

4. Lots of people did.

Even after the huge shortfalls predicted by the states turned out to be small or even "negative" shortfalls, they were given money to help them dig out from the huge shortfalls predicted.

Same for businesses. Schools. Local governments.

When somebody offers you money and you qualify, the rule of thumb is to say, "Gee, free money." Some are rebuked for their greed in acquiring unearned assets, others praised for their wisdom in acquiring unearned assets.

We dare not tempt them with weakness. For only when our arms are sufficient beyond doubt can we be certain beyond doubt that they will never be employed.

But neither can two great and powerful groups of nations take comfort from our present course — both sides overburdened by the cost of modern weapons, both rightly alarmed by the steady spread of the deadly atom, yet both racing to alter that uncertain balance of terror that stays the hand of mankind's final war.

So let us begin anew — remembering on both sides that civility is not a sign of weakness, and sincerity is always subject to proof. Let us never negotiate out of fear. But let us never fear to negotiate.

Let both sides explore what problems unite us instead of belabouring those problems which divide us. ...

And so, my fellow Americans: ask not what your country can do for you — ask what you can do for your country.

On edit ... Forgot the link: https://www.ushistory.org/documents/ask-not.htm JFK's inaugural speech.

[appalachiablue]

3. The system is working just fine and as intended

K/R