Viewpoint | We’re Burying Our Young children in Credit card debt (Just Not the Way You Believe)
Funding universities Wall Road-type also topics colleges to market volatility. For instance, as the 2008 recession crumpled state and metropolis revenues, a lot of school districts, below the advice of self-appointed financial gurus, invested in stylish yet eventually dangerous fiscal belongings like “variable bonds” and “interest swaps.” It was an comprehensible go colleges had been determined to secure resources their state governments could not or would not supply. But when quite a few of these specials turned poisonous, hard cash-strapped districts were on the hook for skyrocketing payments.
In 2010, Philadelphia general public educational facilities paid out $63 million in
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