UPDATED: Fort Worth ISD extends deadline, ups cash for teachers who want to quit or retire

It's all part of the financial crisis that the education system is facing.

This tactic won't work.

FORT WORTH — In mid-December, Fort Worth ISD offered $500 to the first 300 teachers who offered to leave their teaching positions and notify the district by February 28, 2011. Today comes word that the deadline has been extended and the price tag has doubled. Now, the first 300 eligible teachers who want to leave the district will get $1,000 and have until 5 p.m. March 11, 2011 to tell Fort Worth ISD.

UPDATE: The deadline was again extended and the price tag multiplied by five. The district will now pay $5,000 to the first 600 teachers who resign or retire. The deadline to notify the district is now Wednesday, March 23.

According to a statement, this is the first time the district has offered that much money for teacher retirement. The district has changed the requirements because they're faced what they call a "growing financial crisis" that many districts around North Texas are also facing.

"An increasing number of districts are now forced to use dollars from their fund balance for daily operating expenditures," the statement says.

Those interested can call Annie Anderson in Employee Relations Section I of Human Capital Management at 817-814-2796. Teachers who are resigning due to lack of certification are not eligible.