Staff and students were notified of the school’s possible closure earlier this week.
The International School of Columbus needs the money to continue operations or it will have to relinquish its charter.
Of the nearly 300 traditional public school districts in Indiana, 30 of them have a charter school located within their boundaries.
Green Meadows would focus on sustainability and the arts, but some school officials say it could have a negative financial impact on nearby public schools.
Christel DeHaan says she supports a review of the A-F grading system.
Groups hope that former state superintendent Tony Bennett's resignation from Florida's top education post, will serve as a catalyst for change.
While announcing his resignation Thursday, Tony Bennett said he did the best thing for Indiana and for Indiana children.
Students in subgroups of the population such as minorities or those in poverty outperform their public school counterparts, a study shows.
It is not clear the seven Ball State charters slated for closure are the best in their neighborhoods. But some parents say they had nowhere better to go.
The court request says Indianapolis Mayor Greg Ballard's office was required by law to offer time for a response from the school.