U.S. Department of Education Awards Group $10 Million for Charter School Credit Enhancement

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Posted: August 23, 2011

The U.S. Department of Education has awarded the Local Initiatives Support Corporation (LISC) $9,983,395 under the Credit Enhancement for Charter School Facilities Program, which provides funding to make loans more accessible for charter schools.

LISC, a nonprofit community development organization with offices around the country, was awarded $10 million under the program in 2003-04, $8.2 million in 2006, and $8.3 million in 2009, according to the department.

Since 2001, the department has awarded 31 grants through the program totaling more than $200 million. Nineteen organizations have received grants, which have ranged from $1.6 million to $15 million.