Rich white folks making money off of segregated education isn't new. What's new is its takeover of the US Department of Education.
Author Noliwe Rooks argues that school privatization enables the continuation of historic educational apartheid, oppressing people of color. Rooks wrote the book Cutting School: Privatization, Segregation, and Public Education,...Segrenomics is a term I came up with to describe what I saw in so many discrete educational periods in [the US] where there was a consistent cycle for plundering funds supposedly for our nation's most vulnerable students and then hoarding those same funds to educate students who were either wealthy, or white and often times ... both.
I began to see that the separately unequal educations that define our nation were not merely the product of an apartheid imagination designed to educate different segments of our society into what a scholar named Horace Mann Bond termed the American social order, but was also a lucrative business model that from the 19th century on has aided the financial bottom lines of wealthy businesses. Looked at with that understanding, I began to see that the thicket of separate and unequal educational experiments described in the book (vouchers, charter schools, alternatively certified teachers and superintendents), many of which failed to educate the children they were created for, simply would not have been proposed if there was no money to be made from them. [emphasis mine]
Rooks also notes that "segrenomics" is "a specific form of capitalism that relies on segregation to do its work."