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As Students Signed Up, Online School Hired Barely Any Teachers — But Founder’s Company Charged it Millions

One of Indiana’s largest high schools ended this past school year with almost 5,000 students, but no desks and no classrooms. The school also had very few graduates — 61 out of more than 900 seniors graduated last year.

What Indiana Virtual School did have: Tens of millions in state dollars due to come its way over the next two years, and a founder whose for-profit company charged millions of dollars in management fees and rent to the school.