Charter school loan plan rejected

A plan calling for the Los Angeles Unified School District to make short-term loans to charter schools was scrapped after the idea drew sharp criticism from officials who said the district is not a bank. George B. Sanchez in the Daily News.

The proposal, which was to be discussed at today's board meeting, was pulled from the agenda late last week after board members alerted Superintendent Ramon Cortines, who said he didn't know how the plan got on the agenda.

"I want to help charters but we're not a bank," Cortines said.