Police say Laboy told students she'd give them extra credit and that the money was for charity. Investigators say she kept the money for herself.
Investigators said the scheme was "well known" to students. Police opened an investigation last June and interviewed more than 100 students since then.
Laboy, of Howell, is charged with one count of third-degree theft by deception. She was released on her own recognizance Monday.
Laboy worked for the district since 2001, but district officials say she is no longer employed.
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