Why Did an Elite D.C. Private School Receive a Small Business Loan?

[mahatmakanejeeves]

Sidwell Friends is "the nation's most elite private school"? That's news to me.

TestsAreBadHat Retweeted

Sidwell Friends, the nation's most elite private school, says that "Quaker values" allow it to take government money meant for struggling businesses. Read the story from
@AdamHSays
:

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Elite D.C. School, Sidwell Friends, Takes $5.2 Million Small Business Loan

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[elleng]

1. DAMN!

[jimfields33]

2. Disgusting!!!!!!

40K for a freaking year of grade school. Absurd. Close that fraud school down. Those pictures don’t look like a elite private school to me. It looks like a dump!!!!!

[Mad cow]

3. Obama and Clinton sent their kids there

[jimfields33]

4. That's fine. Still absurd to spend 40 grand a year for grade school and high school each year

That’s 10 percent of their paychecks before taxes. And I’m really pissed that they go the money meant for small businesses. That’s really what I’m pissed about.

[Mad cow]

6. I totally agree, just pointing out how elite the clientele is

[elleng]

7. It's not a dump, it's not a fraud, and continues through high school.

[jimfields33]

8. Everyone sure gave Ruth Chris steak house a big problem doing the same thing.

[Cicada]

10. The loans are designed to keep workers employed, workers get the money

PPP loan. PPP stands for paycheck protection program. The loans are forgiven only if the funds are used to keep paying workers.Without these loans employers will lay employees off. The money ends up in the pockets of employees, not the pockets of employers.

[jimfields33]

11. The school can't. Come on. I get why just don't believe the school is not able.

[elleng]

12. Right, the school is surely able to take care of itself, no doubt;

should not have rec'd, along with many others.

The program, such as it is, appears not to be handled/administered well, which is not a surprise, considering the time constraints in establishing it AND the 'inclinations' of repugs.

[jimfields33]

13. You got the right about repugs

[delisen]

5. Jimmy Carter sent his daughter to DC public school

[Cicada]

9. PPP loans, paycheck protection program. Schools have payrolls.

These loans are forgivable if you use the money to keep paying wages. The provisions of the law explicitly state that nonprofit organizations are eligible. These funds are aimed to go to workers, not employers. So I have no problem with Sidwell getting such a loan.

[jimfields33]

14. They have a 52 million dollar endowment

Enrollment is 1142 times 40,000 a year equals 48 million 680 thousand dollars in tuition. And they are hurting? Not buying it. Sorry.

[mahatmakanejeeves]

15. I'm sure not every student's tuition is at the full amount.

I don't have any experience with Sidwell Friends, but all these schools have scholarships and varying rates depending on need.