Teachers can get loans to buy homesState offers educators low-cost deal By Diette Courrégé (Contact)
The Post and Courier
Tuesday, April 22, 2008
Many teachers don't make enough money to afford buying a home, but state officials hope a new $20 million initiative will help ease teachers' financial woes. The 2008 Palmetto Hero Program will offer low-interest home loans and help with down payments to South Carolina teachers who are first-time home buyers. The state Education Department and the State Housing Finance and Development Authority will run the program. State schools Superintendent Jim Rex called it an exciting partnership and an innovative approach to putting more incentives in place for teachers to be able to buy a home. One of Rex's top priorities has been elevating and reinvigorating the teaching profession, and this effort is the latest during his tenure to accomplish that goal. "It's important that we attract these teachers to these schools and school districts, and that we find ways to keep them there for a reasonable period of time," he said. To learn moreFor more information on the housing offer for teachers, call the South Carolina State Housing Authority at 800-432-5007 or 803-896-9508 or go to schousing.com for a list of lenders. The program will be offered on a first-come, first-served basis, and the same deal may not be available in the future. Rex said the ultimate long-term answer to the issue of teachers' inability to afford homes is to improve their compensation. He said some could argue that teachers are beginning to slip from the middle class, and he hopes this program is the beginning of more help for them. The plan is dubbed the Palmetto Hero Program because "we look at teachers as being one of the heroes of our state. They are critical to us thriving and moving forward as a state," said Valarie Williams, executive director of the Housing Authority. Certified South Carolina teachers who either teach here or plan to do so within 60 days of closing on a home are eligible for the program. Teachers can get a 5.875 percent interest rate through the program, and teachers who qualify based on income can get one of two possible down payment assistance loans. Williams estimated that the program would make about 175 loans statewide, and teachers do not have to live in the school district where they work. The state Education Department plans to help publicize the program by talking to school district officials and ensuring they are aware of it, Rex said. District officials could use this program as part of a compensation package that could be helpful in recruiting teachers, he said. Bill Briggman, Charleston County School District's human resources director for teacher employment, said he thought the program would be a recruitment and retention tool. Housing costs have increased in the past several years in Charleston, and it's more difficult for teachers to buy houses in the areas where they teach, he said. Those who are graduating from college typically ask about rent costs, but those are over 30 usually ask about the average cost of a home, Briggman said. The district doesn't offer any financial incentives for housing, but officials are beginning to talk about finding a corporate sponsor for a housing program like the one in Marlboro County. The state formed a partnership with Marlboro County schools to enable 12 new teachers to live in a restored 8,000-square-foot house for $100 a month. |
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Comments
This article has 31 comment(s)
Posted by Riptide on April 22, 2008 at 8:11 a.m. (Suggest removal)
I remembered as required reading back in high school the book called Animal Farm by George Orwell.
I have a question, how do I become a pig?
Posted by Early on April 22, 2008 at 8:18 a.m. (Suggest removal)
I don't think this is helping teachers much, 5.875% is not that great, some down payment assistance would be beneficial as mentioned but,, the article did mention the root problem and that is compensation. Let's compare the article yesterday with this today and that is a Pharmacist makes 100k out of school with a four year degree. A teacher with the same amount of training makes 24k and yet they have to teach you snotty nose, misbehaving kids how to be socially accepted! Teachers in states not far from here make twice that much. Want to keep teachers, pay them more. We have the ones we have now because a lot,,,,not all but a lot have children of their own and they can be home when school is out. Anyway, I think our teachers have been "out of middle class" for a long time!
Posted by ColdBeer on April 22, 2008 at 8:35 a.m. (Suggest removal)
I think a better answer would be to pay teachers more. Setting up special loans for those that cannot really afford a home is what got us in to the current mess that we're in.
Posted by theronce on April 22, 2008 at 8:44 a.m. (Suggest removal)
State and local governments in SC underpay just about everyone on their payrolls when compared to the private sector. For some reason, teachers are most often highlighted. In other areas of government, people with masters degrees make little more than teachers.
Posted by Riptide on April 22, 2008 at 9:02 a.m. (Suggest removal)
In 2002 California teachers were the highest paid in the nation yet the public schools ranked 48th in the country. If you’re thinking about putting all your eggs in one basket and expecting to public schools to educate your kids... forget it. Throwing money at the problem or giving them perks is not going to solve the problem. It’s best to have one parent or guardian with a part time job to spent more time with your kids educating them, than expecting government training camps (public schools) to the job.
My kid's teachers were falling asleep in class. Ever tried getting a teacher to do his or her job when they have tenure.
Well I got to go to work now.
Posted by nappyd on April 22, 2008 at 9:07 a.m. (Suggest removal)
Pharmacy School is 4 years on top of undergraduate. It's not a 4-year degree.
Posted by toastchee on April 22, 2008 at 9:14 a.m. (Suggest removal)
I'm all for special programs for our teachers. It's a good start!
Posted by Early on April 22, 2008 at 9:18 a.m. (Suggest removal)
nappyd, six year total or eight? Thanks for pointing that out.
Rip, I think California was 51% illegal immigrant attendance in public schools. It was on the news last night where the kids had little classroom experience before and still can't speak English, a whole different topic.
Posted by wpc3iop on April 22, 2008 at 10:11 a.m. (Suggest removal)
How about the rest of the hard working folks who would like to buy a home?
Posted by ForPnC on April 22, 2008 at 11:05 a.m. (Suggest removal)
I'm all for giving teachers more. How's about giving THEM the raises instead of the supervisors that don't do squat?
As for these loans - isn't this going to add to the mess that's already happening? People buying houses they can't afford?
Posted by Early on April 22, 2008 at 11:07 a.m. (Suggest removal)
tp, the next day's headline would read "daughter/ mother missing after a rather large alligator was found inside the home. Officials also point out there was a trail of dog food leading to the residents"
Posted by Larz13 on April 22, 2008 at 11:10 a.m. (Suggest removal)
Perhaps Jim Rex needs to look in the paper on Sunday or the internet to see what a good interest rate is.
A better solution would be to have developers set aside a certain amount of units that they build for affordable housing for teachers, firefighers, police and government workers. They can live there for a few years and then have the opportunity to sell at market value if they choose. This seems to work in other states. They should not have to share the profit with the government either if they stay for a certain period of time.
Helping out with the downpayment or subsidizing mortgage insurance would be more of a help than lowering the interest rate. That would be one way to attract (and retain) the folks that teach kids and keep us safe.
My two cents and I am not a teacher nor municipal worker.
for wpc3iop: Ever hear of an FHA loan?
Posted by ln1959 on April 22, 2008 at 11:55 a.m. (Suggest removal)
TP, there was another incident of a young lady jumping on a teacher in Portsmouth, VA about 3 weeks ago and nothing happen to the child, but the teacher is out of work and the school systems say the have to investigate. Umm..One of the kids in the class has it on video, whats there to investigate.
I have a family member thats a teacher in SC. She loves teaching, but if it wasn't for her father, she would not be in her home today.
I uses to work at the College of Charleston, and was being totally underpaid by the state, so I change venue and have am making three times what I was making for the state. They do underpay and teachers are the worst.
Posted by Floger76 on April 22, 2008 at 12:01 p.m. (Suggest removal)
Larz13 - good point...This is an FHA and/or a Conventional loan, with a rate of 5.875% (Which is at or above current market rates). The only thing that makes this a 'deal' is the repayable/forgivable $5000/$7000 downpayment assistance program. Not a bad deal.
Posted by nochasgirl on April 22, 2008 at 12:06 p.m. (Suggest removal)
My children have had some great teachers, some good teachers, and some awful teachers over the years. I agree that if teachers in SC were paid a respectable salary, we would attract better teachers. However, this year has been horrible for my youngest child. I wouldn't pay any of his teachers $ 24,000.00 for the job they've done. I believe there are a lot of teachers who truly love their job, but they probably could not survive on their salary if not for a supporting spouse's salary. For those teachers who have lost their love and passion for teaching, please go find another job!
Posted by Early on April 22, 2008 at 12:21 p.m. (Suggest removal)
tp, this is funny. Posted on MSNBC
Whoah! Woman finds 8-foot alligator in kitchen
69-year-old Floridian spots animal after it pushes through porch screen
See, it can happen!
Posted by theronce on April 22, 2008 at 12:36 p.m. (Suggest removal)
When the first local community in this state that gets a belly full of the performance of their local public school and shows up daily to discipline the little darlings and help the teachers at the teachers'directions, then that school will immediately become the most improved school at all levels in the state. The adults and financiers have to to follow up on their obligations and investments.
Posted by JohnS on April 22, 2008 at 1:35 p.m. (Suggest removal)
Giving a teacher a loan would be unfair unless all state employees recieved the same deal.
Posted by ColdBeer on April 22, 2008 at 2:07 p.m. (Suggest removal)
Setting up special loans for teachers is just another example of attacking a symptom of the problem instead of attacking the problem. Pay teachers what they are worth and let THEM decide if they want to spend that money on a house or on cotton candy.
Posted by greyrider on April 22, 2008 at 2:10 p.m. (Suggest removal)
Here's something to think about. All schools charge "tuition" in one way or another. Private schools make the parents pay the tuition. Public schools make the taxpayer pay the tuition. Public Schools "charge" TWO or THREE TIMES AS MUCH as private schools. Why don't public school teachers make two or three times as much as private school teachers? That's easy. Because Government mismanages money everywhere, all the time. Democrat, Republican, Liberal, Moderate, Conservative....they're all guilty. We will NEVER have quality education until we close the public school system. The state governments should collect an education tax, and give out vouchers and privatize the whole system. Teachers would get paid decent salaries, kids would get educated, and everyone would have the FREEDOM to go to whatever type school they want. (Imagine that, freedom in America, what a concept) Government screws up most of what it touches.
"That government governs best, which governs least."
Posted by magoo on April 22, 2008 at 3:11 p.m. (Suggest removal)
Give all the unused military housing to teachers.They can live free in the housing if they elect to teach in failing schools
and or hard to place w/ teacher schools.
Posted by ColdBeer on April 22, 2008 at 3:27 p.m. (Suggest removal)
The idea definitely has merit greyrider. The government would still have to be involved to some degree. Standards for education would have to be established and maintained. When I interview an applicant that graduated from some private school hundreds of miles away, I need to know that his school met some sort of educational standard. We'd have chaos if a standard was not in place. As it is now, I don't interview anyone that writes "home schooled" on an application because I know that standard is seldom applied in home schooling.
Posted by greyrider on April 22, 2008 at 3:40 p.m. (Suggest removal)
ColdBeer, I agree we need standards, but think about it. The best "standards" there are, are economic success or failure. If all schools were private and everyone was free to go to whichever they choose (unlike today's "you live here, you go to this school" mentality), schools that failed to educate students would close from falling enrollment. Competition would raise standards by itself.
Posted by magoo on April 22, 2008 at 3:42 p.m. (Suggest removal)
Do you really think that all public schools teach to the standards set by the government, the only stanard the public schools teach are to the PACT Test Standard,
Posted by majorjohnson on April 22, 2008 at 5:11 p.m. (Suggest removal)
The real solution is for government to tie the money to the student instead of the school. If they figure it should cost $8,000 to educate a student for a year, then the students parents should have a tax funded voucher to give to whoever they want to educate their child. That is local, state and federal costs (though I don't believe at all that the federal government should be involved). Let public and private schools compete to turn out well educated students. As long as public schools have a tax funded monopoly why would they improve? If I'm the state sole provider of dry cleaning via tax dollars what incentive do I have to make you happy as my customer? You can pay me to do your dry cleaning with your taxes and then send your dry cleaning somewhere that will make you happy and pay them too, sure. I still get your money, so I'm happy even if you aren't, and it's all about me baby.
Posted by halfsheli on April 22, 2008 at 7:07 p.m. (Suggest removal)
The standards set by the government ARE the PACT standards. And, no, schools should not teach to them. The truth of the matter is that most teacjers have much higher and more realistic standards than the poltician-driven government. Government standards fulfill one purpose: to create all the test scores and paperwork that the educational beaucracy loves so much. The purpose not met by these standards is a well-rounded education.
Now, back to the article. I agree with ColdBeer (again -- and that scares me). This does not fix the problem that some teachers can not afford to own a home. BUT, to be positive. I can't think of many other groups of people that deserve the help more!
Posted by halfsheli on April 22, 2008 at 7:11 p.m. (Suggest removal)
Competition is not a bad idea. BUT, you'll now have to make sure that the private schools adhere to the same restrictions as public schools -- namely that they can not turn away undesirable children. I mean, if I got to choose which students I taught and which ones I wouldn't, my students would look as good on paper as anyone's!
Posted by majorjohnson on April 23, 2008 at 10:25 a.m. (Suggest removal)
There you go halfsheli...instead of insuring that a child who can succeed has the tools that will allow it to happen, worry that it would result in "undesirable" children not succeeding. Much better to put a smart kid in a dumbed down class so the class idiot/thug can feel good about his lack of success.
Posted by halfsheli on April 23, 2008 at 11:36 a.m. (Suggest removal)
I'm not talking about the thugs and idiots. I'm talking about genuine students who struggle. There are many students who struggle, and fall short -- especially when being measured by mostly meaningless tools like End of Course Exams. If we have a competetive system, is someone going to have to educate this child? Or will schools (private or public) have the opportunity to refuse that child's education based on the fact that his test scores will blemish the school's success on paper.
And, what about those idiot's and thugs? Are we changing the paradigm of public education? Will we now say that every child is NOT entitled to a Free Appropriate Public Education as is now the law? And if we don't educate them, what DO we do with them? They WILL become society's burden either way. Only instead of costing CCSD financially, they will cost the judicial and prison systems. They can not be ignored; that could be even more costly.
here's a serious question: How do you create legitimate competetion and NOT eliminate behaviorally and academically challenged (I know, that's really PC) kids? Someone has to try to educate them. AND, its not easy. How will we keep schools from turning away from a portion of the population that needs education the most?
finally, in my experience, NO ONE feels good about his lack of success. True, some are more apathetic than others. But failure affects the thugs and idiots just as it does the smart kids. I see it every day. Sadly, the thugs and idots are simply not equipped with the character or common sense to use past failures to their advantage. BUT, that doesn't mean they are not affected.
Posted by halfsheli on April 23, 2008 at 11:38 a.m. (Suggest removal)
major,
My posts are not an attempt to slam your ideas. They are meant to learn more about your ideas. There is no one person with the answers. The best we can do is to feed off of each others' ideas and experiences and then do something progressive.
Posted by scteacheraid on April 23, 2008 at 12:11 p.m. (Suggest removal)
If you are a teacher and want more info on the Palmetto Hero Program or want to know if you qualify visit www.SCTeacherAid.com for more info.