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Investment advisor Greg Wing has established The Education Fund of America. It connects international investors with charter schools. According to the fund's website:
The Education Fund of America is passionate about financing schools that help children move from indifferent to INSPIRED. It is more than just a slogan for us, it drives our school funding decisions.
We are committed to helping our EB-5 investor families have a fulfilling experience with EB-5 knowing that they are also helping America's children - in the process.
"The demand is massive - massive - on the school side," Wing told a reporter for Reuters. "On the investor side, it's massive, too."
He is currently arranging EB-5 funding--which gives foreigners visas for investing half a million in development projects--for 11 charter schools across North Carolina, Utah and Arizona. He even has four more deals in the works.
And that's just the start, Wing says: "It's going to be explosive."
According to a story by Reuters, foreigners are using the funding mechanism to get into the U.S., by investing in school instead of luxury hotels, ski resorts or gast stations.
MP
2:17 pm on Monday, October 15, 2012
Before any opponents of the amendment start harping on "foreigners," as they like to say, taking over public education and privatizing it...below is an excerpt from HB 797:
186 - A start school shall: (1) seek highly qualified, properly trained teachers and other qualified personnel for such schools; provided, however, that such schools shall give preference to hiring an individual who is a citizen or national of the United States over another individual who is not a citizen or national of he United States if the two individuals are equally qualified, unless a teacher isa foreign exchange teacher; provided, however, that prior to hiring an individual other than a citizen or national of the United STates or a protected individual as defined in 8 U.S.C. Section 1324b. the school shall receive approval by the commission and demonstrate that qualified teachers and other personnel was sought but not available in such area which warrants hiring an individual other than a citizen or national of the United States or a protected individual as defined in 8 U.S.C. Section 1324b, unless a teacher is a foreign exchange teacher; provided, further, that the commission and the state charter school shall not construe this paragraph in a manner in violation of 8 U.S.C. Section 1324b or other provision of law; and
MP
2:17 pm on Monday, October 15, 2012
(2) Give preference in contracting and purchasing of services and materials to businesses incorporated under the laws of this state or qualified to do business within this state and having a regularly maintained and established place of business within this state, so long as such businesses are otherwise similarly situated and qualified as compared to a business from out of state.
(e()(1) The members of the governing board for the state charter school shall meet the following qualifications:
(A) Must be a United States Citizen
(B) Must be a resident of Georgia
(C) Must not be an employee of the state charter school