Obama Administration Launches $650M Program to Boost Education

By Nick Anderson

The Obama administration announced goals for a $650 million grant competition for school systems and nonprofit organizations with ideas for narrowing achievement gaps, reducing high school dropout rates and improving teacher and principal effectiveness.

The competition dovetails with a $4.35 billion grant program for states that the administration calls "Race to the Top." The combined $5 billion in seed money for fixing or improving schools amounts to one of the largest federal investments to date in educational entrepreneurship.

Read full text of this Washington Post article.