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"Money Talking" - Why there's Big Money in Education

Friday, August 24, 2012 - 12:45 PM

Summer’s coming to an end and that means it’s back to the classroom for millions of students around the country.

It's also back to school for the businesses trying to make a profit from teaching the nation’s children.

Whether they're selling digital textbooks and educational services or running for-profit schools, established technology, media and publishing companies, as well as a fleet of start-ups, are seeing dollar signs and investment opportunities in the classroom.

Rupert Murdoch's News Corp is pushing into the digital textbook market with its education division, Amplify. Barnes & Noble, Apple and Amazon are all offering eTextbooks. And here in New York City, education entrepreneur Chris Whittle is opening a private for-profit school in Manhattan called Avenues for 700 to 800 students. Tuition is $39,750.

So is all this money being funneled toward the education sector actually helping students?

This week on "Money Talking," WNYC's contributing editor for Education Beth Fertig and Rana Foroohar of Time weigh in on the private sector's growing influence in the classrooom and what it means for the future of American education.

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