Seattle Weekly: News: 98.8 Percent Overhead by Bruce Rushton: "98.8 Percent Overhead
The North Seattle Community College Foundation is one of the nation's biggest credit-counseling agencies, but hardly any of the millions of dollars in revenue goes to helping students. Most of it goes to for-profit corporations.
by Bruce Rushton
(Karen Steichen)
Desperate debtors were supposed to be the key to riches for the North Seattle Community College Foundation, created to independently raise money for North Seattle Community College, a public school. Finding money for scholarships can be tough for a two-year school that alumni are prone to forget after they transfer to a four-year college. So seven years ago, the nonprofit foundation, which had relied on dinners and other traditional fund-raising events, settled on an unusual way to fill its coffers: credit counseling."
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