Buena Vista And Inkster, Michigan School Districts With Financial Woes, Likely To Be Shut Down
Posted: 07/23/2013 1:10 pm EDT | Updated: 07/23/2013 1:41 pm EDT
General Motors is alive, and two low-income school districts in Michigan are nearly dead. For them, there is no bailout.
As the city of Detroit made national headlines this month for seeking a bankruptcy filing, two mostly-black school districts in Michigan state failed to make a critical deadline. As a result, they'll likely be shut down.
The districts, Inkster and Buena Vista, are located in southern and central Michigan. Under a new law signed by Gov. Rick Snyder (R), they had to prove they were financially solvent and secure a private loan -- or be closed.
By 5:00 p.m. Monday, the struggling schools had failed to meet an extended deadline to prove they had enough money to stay open, and they were looking for other options -- including banks to lend them funds to continue operating and pay staff members or a charter school management organization that could step in to help.
But small school districts aren’t like big car companies, and as of Tuesday it was
