The economy is the lifeline of America. It controls everything ranging from government projects to public education. It also has a significant impact on private education. A private school has to take out loans in the same fashion that businesses do. Thus, if they take out an adjustable-rate mortgage, and, if the economy sinks, the interest rate increases substantially. What that means is that the school will have to make more expensive payments and, if they can’t be met, the school is shut down. This is what happened to Renaissance Academy in Colorado Springs.
This is unacceptable. While the government is not legally obligated to provide support for private primary schools, I believe some kind of safeguard measure must be put in place. Private schools offer an alternative to attending standard schools. Honor programs can provide a great basis for learning, but a public school environment can ruin the benefit for many students. While it is the family’s choice to pay for school or not (besides through taxes), the choice should always be present. Perhaps more affordable and stable loans should be provided for private schools? That way, they can remain private but also remain open. Schools, whether public or private, should not have to be closed due to a lack of funding.
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