Yahoo! News: Education News

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• Sallie Mae CEO sees loan losses peaking in 2009 (AP)
• Short on funds, districts declare fiscal emergency (AP)
• Audits: Little control over Detroit school funds (AP)
• Who Pays for Special Education: Parents or Districts? (U.S. News & World Report)
• Police: Toy gun led to lockdown at Princeton (AP)
• Sallie Mae CEO sees loan losses peaking (Reuters)

Sallie Mae CEO sees loan losses peaking in 2009 (AP) Posted: 03 Jun 2009 03:27 PM PDT AP - Sallie Mae CEO Albert Lord said Wednesday he expects loan charge-offs at the student lending company to peak in 2009 and remain high next year.

Short on funds, districts declare fiscal emergency (AP) Posted: 03 Jun 2009 01:46 PM PDT AP - These days, Superintendent Bill Brumfield finds himself frequently turning to passages in the brown leather Bible resting on his desk. His school district is losing students. Utility and transportation costs are rising. And he's expecting to lay off staff — even, perhaps, his own son.

Audits: Little control over Detroit school funds (AP) Posted: 03 Jun 2009 01:37 PM PDT AP - Audits of 194 Detroit public schools show inappropriate personal loans to officials and $1.7 million in sales tax paid unnecessarily to the city from the tax-exempt school district, an emergency financial manager said Wednesday.

Who Pays for Special Education: Parents or Districts? (U.S. News & World Report) Posted: 03 Jun 2009 10:44 AM PDT U.S. News & World Report - The United States Supreme Court is expected to issue a decision soon on when public schools must reimburse the parents of special-education students for private school tuition, the New York Times reports. The case could have serious financial repercussions for families and school districts alike. The ruling hinges on the interpretation of an amendment to the Individuals with Disabilities Education Act (IDEA), which requires that disabled children receive a "free appropriate public education."

Police: Toy gun led to lockdown at Princeton (AP) Posted: 03 Jun 2009 09:37 AM PDT AP - Police say a gun scare at Princeton University began when four teen boys found a toy gun on campus.

Sallie Mae CEO sees loan losses peaking (Reuters) Posted: 03 Jun 2009 06:56 AM PDT Reuters - Student lender Sallie Mae expects loan losses to peak in 2009, although charge-offs are likely to stay high, Chief Executive Albert Lord said at a conference on Wednesday.

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