GRANBY, Colo. -- Students in Granby may have a very long winter break -- three months to be exact. It's not because the school district feels students deserve the time off. The change would take place because the school district would literally run out of money.

Students at Middle Park High School learned of the possible change Wednesday.

"It is just such a drastic change," said Haley Nordin, a junior at the school.

If this worst-case scenario happens, schools in East Grand School District would close from Nov. 4- Jan. 24. Students would then come back to school for five days a week, instead of four, which they currently do.

"It would make our senior year interesting," said Lisa Hobbs, a senior at Middle Park High School.

Interesting is not what parents are calling it.

"It is pretty scary," said Sherri Lange, a Granby parent. "It is totally going to affect the community."

East Grand School District will run out of money Nov. 4. According to superintendent Nancy Karas, this is a cash flow issue from November to February.

"We have a balanced budget," said Karas.

East Grand School District relied heavily on property taxes from the county. In years past, the school district has used interest-free loans from the state to get by until property taxes are paid.

Karas said this year; the state suspended those loans until after the November election because Amendment 61 could make those loans disappear. Amendment 61 would restrict the school district's ability to borrow money.

Karas said the district is looking at all of its options. The worst-case scenario would close all schools for three months, laying off teachers during that time period, closing Grand Lake Elementary for the remainder of the year, terminating all athletic and activity programs for the remainder of the year and stopping all benefits for district employees during the three-month period.

Many parents are not pleased with the possibility.

"It is going to make it difficult on the kids and delay them in their education," said Lange.

But some parents believe the district is to blame.

"I think the schools waste too much money and now they are going to have to pay for it," said Tish Linke Krempin, of Hot Sulphur.

"This is only an issue of cash flow," said Karas.

Another option the school district is looking into is increasing property taxes in the county for one year.

"I would hate to have to see it, but I would prefer to have increases in our property taxes," said Lange. "It would be an easier thing for the whole community."

According to the Colorado Education Association, at least six other school districts in the state are in a similar situation.