School Districts Resorting to Loans

By: Jeff Proctor Email
By: Jeff Proctor Email

Nearly half the school districts in michigan are doling out millions of dollars in interest to keep the lights on. That's because they still don't know how much they'll be getting from the state, according to a report in The Detroit News. Districts borrowed more than 700-million dollars at three-point-seven percent interest. That could rise if state funding isn't settled soon.

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  • by kale Location: tc on Oct 9, 2007 at 07:49 AM
    I guess this is a good way for the gov to see if schools can do without there least as much help.if TAXES are'nt passed then schools will suffer mainly in small areas.there's just not enough people to tax and they vote down millages to fund schools.with the job suition can't blame them.sure we want our kids to get an education,but with things going the way they are,what kind of jobs will there be in the long run all over the states.think what it cost to run a school?there prices for stuff went up taxes,materials,wages of thoes employeed at schools,utilities,up keep,ect.makes one wonder how some are still operating.the cost to run buses is so much.what will happen to the schools all over mich?without taxes we will see big changes and many layoffs.think about taxes and what they cover before saying NO.the later on effect I don't think we will like.the worse of two evils,but--
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