Closing of Jubilee Schools to displace hundreds of low-income students

MEMPHIS, Tenn. -- A Catholic school system in Memphis that serves hundreds of underprivileged children is closing its doors, because they are running out of money.

WREG learned a public charter school plans on moving in when Jubilee Schools closes after the next school year.

The Jubilee School Network helps many low-income students, close to 1,500 of them.

Parents like Brandy Bell said they're praying for a miracle.

"I was really disappointed. Hurt," she said.

Bell didn't want to hear the schools were closing.

Her son goes to Memphis Catholic High, one of the Jubilee schools set to close.

"I have a daughter that graduated here in 2012. I have been a Catholic mom for years. It's heartbreaking. It's heartbreaking," she said.

The Catholic Diocese of Memphis announced next year will mark the last year for the schools.

They told WREG they are running out of money. A trust fund maintained by donors depleted. They can't afford to keep the 9 schools open.

Unlike other private and faith-based schools, these schools accepted all students. Many are from low-income families.

They opened with the goal to provide low-income families with quality education. They offer tuition support and scholarships to students.

"They're very understanding about that. They work with you. It's worth it," said Bell.

Parents told us the schools provided uniforms, hot meals, tutoring and more.

It gave them hope. Another option.

The interested charter school network is expected to file a letter of intent February 1.