Financing schools in today's recession
Blog by Walt Gardner/Education Week
It's no longer news that public schools across the country are facing the worst financial crisis since the Great Depression. Because the federal government contributes less than 10 percent of funding, public education depends heavily on state and local support in roughly equal proportions. But the recession has shrunk revenues from both sources. As a result, states are engaged in a series of unprecedented reforms to deal with the deficits they face. At the heart of the movement is the belief that despite spending more per student than most developed countries, the U.S. still performs below average on tests of international competition in math and reading. (more...)