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School district getting into debt collection business

The North Pike School District is looking into getting into the debt collection business as a means of earning revenue for its proposed building expansion project.

The Enterprise-Journal reports the Board of Trustees has authorized Superintendent Dennis Penton to advertise to buy debt from municipalities and other school districts.

As a debt collector, Penton says North Pike will profit from interest that will have accrued over a period of time.

He says this money could be used to go toward the district’s multimillion-dollar building expansion project.

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