Clackamas-based AllPrep charter school network has closed schools in Sisters and Marcola due to serious financial problems.

Teachers and staff have lost jobs and students have been required to relocate or pay community college tuition the charter schools were unable to cover.

Nearly a decade ago, [Educational entrepreneur Tim King] founded three charter schools: New Urban High, Clackamas Middle College and Clackamas Web Academy. In 2008, he left to start the AllPrep and other charter schools in a half-dozen small districts across the state, from Sheridan to Estacada to Sisters to Burns.

After he left, serious financial problems were discovered at the Clackamas charters, including hundreds of thousands of dollars in questioned expenditures. The three schools were ordered to repay the district almost $400,000, a debt load that has crimped their operations.

Read the whole story at OregonLive.com.