Wednesday, July 27, 2016

How it began in Guilford County, only different; "City, schools working on $100 million effort to provide free college to Louisvillians"

"Mayor Greg Fischer and local education leaders are weighing an estimated $100 million participation in a scholarship fund to provide tuition-free college options to all local high school graduates — forever.

I emailed the author and left a message for the newspaper
in which the story was published and have not been given a reply,
not unlike the News and Record 

Local leaders said the effort could improve the local economy and transform the education system.

They don't want to know

What share of the money would come from city and public school coffers was not immediately clear. Even if community leaders signal their willingness to participate, the project’s fate hinges upon approval of the local proposal by Say Yes to Education, a New York City-based foundation that would provide $15 million to support the effort.

$15 million, just like Guilford County

The city said Say Yes has requested that Louisville “prepare a proposal this fall.”...

...The mayor’s office could not be reached Tuesday afternoon to say how much of the $100 million the city would expect to contribute.

The classic Ponzi is where you get money from one group 
and then find another group to pay the "returns" to the first, and so on, 
until you run out of people and the game is up. 

[Charles] Ponzi...took money from one group, 
telling them they would get it back later, 
and then spent the money with another group, telling them the same thing.

John Mauldin

...Once established, the scholarship fund would pay the tuition for all local high school graduates who are heading to public universities...

...Local leaders are in the early stages of discussing the partnership with Say Yes, Wheeler said, which means the exact amount of money that needs to be raised for the endowed scholarship fund has yet to be determined.

...Fischer could not be reached Tuesday afternoon to say exactly what the partnership would entail. Leaders hope to obtain some of the funds from foundations and the private sector. Say Yes could not immediately say what share of the total investments in other cities came from public sources.

...“Imagine if every child in Louisville could go to college, without taking on debt!...

Why are all of Say Yes to Education's assets invested in George Weiss'

JCPS Superintendent Donna Hargens described Say Yes as a “tremendous opportunity for Louisville.”

Say Yes spokesman Jacques Steinberg told IL via email that Louisville “is one of several communities that have received a request for proposal from Say Yes — as it seeks to identify the sites for its fourth (and perhaps fifth) community-wide chapters.”

Just like they played Guilford

Which communities get chosen depends on factors including “the strength of local leadership; the openness of local partners to working together; the capacity for local fundraising to support college and other post-secondary scholarships, and the commitment of the local school district to the goal of its students graduating high school – and doing so college-ready.”

...The organization says that beyond the $15 million, it provides communities with “comprehensive strategy and technical support including fiscal audits and expert consulting.”

How is Say Yes supposed to give both Guilford County and Louisville
$15 million?

Why has Say Yes declined to provide their 2014 IRS form 990?

...The foundation said that with its support, more than 5,000 students have gone to college.

At what cost?

What was the average payout per student?

What were the operating costs?

What was the endowment charged?

Seems like legit questions, no?

Why is most of Say Yes' money in the Caribbean and South America?

Louisville would be the fourth Say Yes community, after Guilford County, N.C., Buffalo, N.Y., and Syracuse, N.Y. The foundation said that in Syracuse, it “provides services and scholarships to nearly 20,000 public school students and their families.”

Louisville would not be the fourth,
but more like the eighth?

Why did the Hartford Chapter of Say Yes close in June 2005?

Why did the Philadelphia Chapter close in 2000?

Why did the Cambridge, MA Chapter close in 2008?

If you graduate and get accepted to college, 
your tuition will be paid to the last dollar.

Susan Ladd
Greensboro's News and Record
to a random high school student

What happened to the New York, NY Chapter which opened in 2004?

"See Jane Lose"; How Say Yes to Education's Mary Vigue, Greensboro Mayor Nancy Vaughan and Tony Wilkins betrayed the City's employees