Credit Union Offers Teachers Personal Loans for Classroom Supplies

How badly do you really need those erasers?Screenshot/SSSCU

Get your news from a source that’s not owned and controlled by oligarchs. Sign up for the free Mother Jones Daily.


Evidently, the $1.6 billion that K-12 teachers already spend out of pocket on school supplies just isn’t cutting it. Thankfully, the Silver State Schools Credit Union of Las Vegas, Nevada, now offers loans specifically for K-12 teachers who are struggling to scrape together the classroom essentials on their hemorrhaging budgets, Sociological Images reported.

“If you’re a K-12 teacher in the state of Nevada, you know that keeping the classroom supply cabinet fully-stocked can be costly,” reads the email SSSCU sent to its members. “To help you purchase the materials you need beyond what the school’s budget may provide we’ve created a low-interest Classroom Supply Loan especially for you.”

How thoughtful!

Across the nation, states are providing schools with less funding on a per-student-basis than they did before the recession. And, inevitably, teachers are feeling the squeeze. Ironically, Nevada is one of the few states where adjusted spending per student is higher in Fiscal Year 2014 than FY 2008.

SSSCU isn’t the only company to offer teacher-targeted school supply loans. But Silver State charges 1.99 percent APR whereas others generally offer 0.0 percent APR, at least in the beginning. As of Wednesday evening, you can still find this most generous offering on SSSCU’s webpage.

Predatory lenders have gone after soldiers and students. Now, credit unions have underpaid K-12 teachers in their sights. You stay classy, America.

BEFORE YOU CLICK AWAY!

“Lying.” “Disgusting.” “Scum.” “Slime.” “Corrupt.” “Enemy of the people.” Donald Trump has always made clear what he thinks of journalists. And it’s plain now that his administration intends to do everything it can to stop journalists from reporting things they don’t like—which is most things that are true.

No one gets to tell Mother Jones what to publish or not publish, because no one owns our fiercely independent newsroom. But that also means we need to directly raise the resources it takes to keep our journalism alive. There’s only one way for that to happen, and it’s readers like you stepping up. Please help with a donation today if you can—even a few bucks will make a real difference. A monthly gift would be incredible.

payment methods

BEFORE YOU CLICK AWAY!

“Lying.” “Disgusting.” “Scum.” “Slime.” “Corrupt.” “Enemy of the people.” Donald Trump has always made clear what he thinks of journalists. And it’s plain now that his administration intends to do everything it can to stop journalists from reporting things they don’t like—which is most things that are true.

No one gets to tell Mother Jones what to publish or not publish, because no one owns our fiercely independent newsroom. But that also means we need to directly raise the resources it takes to keep our journalism alive. There’s only one way for that to happen, and it’s readers like you stepping up. Please help with a donation today if you can—even a few bucks will make a real difference. A monthly gift would be incredible.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate