QZAB is a 400 million dollar a year U.S. Education Department
program that allows disadvantaged K-12 school districts- the ones
with 35% or more students in the free/reduced cost lunch program
or those located in the empowerment/enterprise zones- to issue
interest-free bonds. The bondholders receive Federal tax credits.
In order for a state or school district to issue QZAB bonds, it
has to secure a 10% matching grant donation from a private organization
such as CyberLearning. The grant donation should “increase
graduation and employment rates, and better prepare students for
the rigors of college and the workforce under a plan approved
by the local school system," according to the U.S. Department
of Education.
Nationally, the largest contributor of the 10% QZAB matching grant
is the non-profit CyberLearning.
To any school district qualifying for QZAB, CyberLearning donates
its high-quality online course content.
CyberLearning’s QZAB-related donations have ranged from
$100,000 for West Washington School District in Indiana to $4,000,000
for New Jersey Department of Education.
For more information on the QZAB matching grant program, call
(703) 823-9999 or go to: www.qzab.org
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