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50 U. Rich. L. Rev. 783 (2015-2016)
Are We Heading toward a Charter School Bubble: Lessons from the Subprime Mortgage Crisis

handle is hein.journals/urich50 and id is 821 raw text is: ARE WE HEADING TOWARD A CHARTER SCHOOL BUBBLE?: LESSONS FROM THE SUBPRIME MORTGAGE CRISIS Preston C. Green III* Bruce D. Baker ** Joseph 0. Oluwole Julie F. Mead **** INTRODUCTION Since 1992, forty-three states and the District of Columbia have passed charter school legislation.1 Charter schools are com- monly defined as public schools that are given considerable lati- tude from state rules and regulations that apply to traditional public schools while being held accountable for student achieve- ment.2 There are more than 6700 charter schools nationwide, serving nearly three million students, which accounts for 6% of public school enrollment.3 Charter school advocates have called for the removal of obsta- cles that limit their expansion, such as the lack of charter school authorizer options and caps on the number of charter schools al- lowed within a state.4 The federal government has also sought to * John and Carla Professor of Urban Education, Professor of Educational Leader- ship and Law, University of Connecticut. ** Professor of Education, Rutgers University. *** Associate Professor of Educational Administration, Montclair State University. **** Professor of Educational Leadership, Policy, and Analysis, University of Wiscon- sin-Madison. 1. SARA MEAD ET AL., BELLWETHER EDUC. PARTNERS, THE STATE OF THE CHARTER SCHOOL MOVEMENT 37 (2015), http://bellwethereducation.org/sites/default/files/Charter %20Research%200908%20FINAL.pdf; Adam Weinberg, Moms Say Kids Can't Wait for Better Schools, PLATTE INST. FOR ECON. RES. (July 9, 2015), http://www.platteinstitute.org /researchldetail/moms-say-nebraskas-kids-cant-wait-for-better-schools. 2. What Are Public Charter Schools?, NAT'L ALLIANCE FOR PUB. CHARTER SC-S., http://www.publiccharters.org/get-the-facts/public-charter-schools/. 3. MEAD ET AL., supra note 1, at 3. 4. See, e.g., CTR. FOR EDUC. REFORM, CHARTER SCHOOL LAWS ACROSS THE STARES: 2015 RANKINGS AND SCORECARD 6-7 (Alison Consoletti Zgainer & Kara Kerwin eds.,

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