The Lakewood school district in New Jersey is teetering on the brink of financial collapse, facing a $19 million deficit that could lead to bankruptcy if the state doesn't provide additional funding. School officials warn they won't be able to pay teachers, staff, or meet other financial obligations by next month. The district has long struggled with the costs of busing and special education for students attending private yeshivas.
The school district in one of New Jersey ’s fastest growing municipalities will run out of money next month if the state doesn’t provide more aid to help offset a $19 million deficit, school officials said last week.
The Ocean County district requested a $104 million state loan last March, the Asbury Park Press reported. The school board approved its $309 million school year budget for the 2024-25 school year, which included the expected loan.Gov. Phil Murphy’s office referred a request for comment to the state Department of Education, which did not immediately respond to a request for comment.
The state funding for the Lakewood school district is so low it violates students’ rights, lawyers for a public school parents group argued before a
School Funding Deficit Lakewood School District New Jersey Education Funding
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