NJ Teacher Runs Cash-for-Grades Ring

She learned well from her union bosses. They've been extorting the taxpayers all these years and now she's shaking down their kids.

A former teacher at Colts Neck High School has been arrested after she allegedly collected money from students in exchange for boosting their grades.

Authorities said then-social studies teacher Megan Laboy, 30, collected more than $1,400 during the 2008-09 school year. Laboy allegedly told her students she would give the money to various charities and in turn give them extra credit on their final grades and exams, but instead kept the money for herself, Sgt. Joseph Whitehead said.

Laboy, of Howell, turned herself in at police headquarters this morning and was released on her own recognizance after being charged with one count of third-degree theft by deception.

Whitehead declined to discuss how much Laboy charged students or disclose which charities students were told would receive the money. He said the scheme was "well known" to students, more than 100 of whom were interviewed by police since the investigation was opened on June 4.

Laboy, employed by the district since 2001, allegedly told students the grades-for-cash scheme was approved and backed by administrators within the Freehold Regional High School District, police said.

District spokesman James Quirk said Laboy is no longer employed at the school, but declined further comment about the arrest or investigation. Records show she was paid $65,195 in 2008-09.

Tough getting by on such a paltry salary, I guess.