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Detroit Teachers Approve Contract Calling for Interest-Free Loans

By The Associated Press — January 05, 2010 1 min read
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Detroit teachers have approved a three-year contract that includes $10,000 in interest-free loans from each educator to help the cash-strapped district save jobs.

Members of the Detroit Federation of Teachers ratified the new agreement on Dec. 19 by a vote of 3,578 to 2,031 and agreed to a $250 pretax deduction per biweekly paycheck starting this month. Once the loan is paid out, teachers will receive a 1 percent raise in the contract’s final year. Teachers will get back up to $10,000 if they leave their jobs.

The deal also includes provisions for joint district-union professional development, peer assistance and review, and school-based performance bonuses.

A version of this article appeared in the January 06, 2010 edition of Education Week as Detroit Teachers Approve Contract Calling for Interest-Free Loans

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