This year, for the first time since the federal Charter Schools program was established in 1994, the U.S. Department of Education is setting forth meaningful regulation of the program. This is a historic development and great news for those of us who have watched the charter industry escape accountability and transparency, while tolerating grift and profiteering.

As the Network for Public Education showed in two major reports (Asleep at the Wheel and Still Asleep at the Wheel), the federal charter program is riddled with waste, fraud, and abuse. Nearly 40% of the charter schools funded by this program either never opened or closed soon after opening. About $1 billion was wasted.

The Department has made a good faith effort to repair the negative aspects of the Charter School Program and to create regulations that would put guardrails in place for charter schools.

There are three key features to…