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Blaine Elementary Principal Troy LaRaviere

Today, Chicago Public Schools principals are learning just how deep their budgets will be cut after last week's announcement that the district was slashing more than $100 million from annual school budgets.

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Chicago teachers took to the streets Thursday to protest $100 million in new cuts being made by the financially troubled Chicago Public Schools that is struggling to close a $480 million budget gap.

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Chicago Public Schools CEO Forrest Claypool on Wednesday spoke passionately about the need for education funding reform, calling the current system by which CPS is funded "separate but unequal." Watch our full interview.

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In a report released last month, researchers say they have no consensus over whether local control of a school district is any better for student performance or financial management than state control of a school district. Brandis Friedman takes a look at one district where the state is in charge to see how its schools are faring.

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Forrest Claypool

Just a day after the Chicago Teachers Union rejected the school board's latest contract offer, Chicago Public Schools is announcing cuts. CEO Forrest Claypool says the district is still working to avoid teacher layoffs, but some staffers will lose their jobs in order for the district to save money.

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Jesse Sharkey

The Chicago Teachers Union is fighting mad and pursuing legal action to strike immediately. We get the latest from CTU vice president Jesse Sharkey.

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Members of the Chicago Teachers Union bargaining unit say they spent hours and hours considering the school board's "serious" contract offer. But on Monday, the group announced that they could not accept it.

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(Courtesy CPS Advanced Arts Program at Gallery 37)

Chicago Public Schools denied Friday that about 150 students from around the city could lose a widely celebrated magnet arts program at the end of the current semester, despite statements made earlier this week to the contrary.

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Earlier this evening, the union announced a possible breakthrough in contract talks after the day's bargaining session wrapped up.

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Can technology change how we learn? Former hedge fund analyst Sal Khan thinks so. His new approach to learning involves "hustle" and "flipping the classroom." Learn more from the founder of the free, non-profit online learning website, Khan Academy. 

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Forrest Claypool

Chicago Public Schools today gave layoff notices to some administrative employees as part of efforts to reduce its $480 million budget shortfall. "There’s no doubt that these cuts are painful," CPS CEO Forrest Claypool said in a statement. "However, with limited resources and a budget crisis not just this year but into the foreseeable future, we had no choice."

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Just a day after Gov. Bruce Rauner and Republican leaders in the General Assembly proposed a state takeover of the financially distressed Chicago Public Schools, lawmakers propose altering the TIF legislation to allow a surplus to be spent on the district. 

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Teachers, parents and the Chicago Public Schools district may not always agree, but on this point they do: leave the management of CPS in Chicago. We hear from education leaders on the GOP plan for a state takeover of the nation's third-largest school district.

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Christine Radogno

Gov. Bruce Rauner and Republican leaders officially announced on Wednesday their ambitious agenda to allow for an emergency financial authority appointed by the Illinois State Board of Education superintendent to take over Chicago Public Schools in the wake of a $500 million funding shortfall.

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Chicago State University campus

Many Illinois college students face the loss of their MAP grants because of the state's fiscal crisis, and Chicago State University says it won't be able to make payroll in March. Amanda Vinicky joins us with details.

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Governors State University (Daniel X. O'Neil / Flickr)

With the state budget standoff in its seventh month and little apparent urgency from Springfield, we talk with the presidents of Governors State and Northeastern Illinois Universities as the funding crisis deepens.