Dive Brief:
- Philadelphia will borrow $30 million to hold over its cash-strapped public school system as it attempts to get assistance from the state.
- District Superintendent William Hite Jr. says the money will stop him from having to lay off teachers.
- The loan will be repaid with revenue from the city's extra 1% sales tax — Council Members have already agreed to give the district $120 million of the anticipated proceeds.
Dive Insight:
While those working within the city's school system are grateful for the loan and the fact that it means layoffs will, for now, be averted, many are frustrated with the bigger messaging behind the loan: Philly schools are stuck in a nightmarish Groundhog Day.
Last year, the district had to borrow $50 million just to open on time.
What will it take to get the city out of this rut?
