Apart from real estate, foreclosed homes are also creating a big problem for the students. A large number of students whose homes have been foreclosed are going to schools but are so poor that they are unable to afford free meals even. Jefferson County, which is a 98,000 student district, including Louisville and its suburbs, has been suffering from financial problems. As the state has made a reduction of $43 million on education, so the Jefferson County school officials have increased the lunch prices and stopped 17 bus services. The increasing rate of foreclosure has led to reduction in costs in schools across the nation.

A large number of teachers and other school officials in Miami-Dade County and Los Angeles have lost their job. The cost of fuel and food are increasing but the school revenues are same. This is having a heavily bad impact on schools. A large number of schools in Ohio and California have either stopped their bus service or have cut bus stops in a bid to save diesel. Schools in the districts of Minnesota and Louisiana have taken up a four-day school weeks. Two of the charities in the suburban Detroit have declared that they are going to give out student backpacks.

There was a tripling in the number of homeless students from 850 in 2006-2007 term to 2,500 in the last school year. This is expected to soar high further. Anne Malone, who helps homeless students, has said that nearly 10 families face foreclosure every day in Louisville. It has been found that about 7,600 homeless students have been enrolled with the term ending in June, 2008, which were 7,300 an year before. The Monday classes have been eliminated by the Caldwell Parish School District, located in northern Louisiana, in a bid to save fuel.

About 58,000 students in the Jefferson County in 2007 were entitled to free or reduced-price meals. It is envisioned that this number is going to go high by 62,000. Last year about 14.9 million students nationwide were eligible for free lunches and this year it is expected that there will be an additional 283,000 students to it. According to the National School Lunch Program, the families with four members with an earning not more than $39,220 per annum, the children of those families is eligible for a 30 cent reduction in breakfast and 40 cent reduction in lunch. But if the family earns less than $27,560, their children are eligible for free meals.

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