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February 1, 2010

US lessons on education spending

Mike Baker:

British education may be down in the dumps over government spending prospects, but in the US the picture is rather different.

This week President Barack Obama announced a big cash boost for schools and for university students.

In his state of the union address, President Obama announced a $4bn (£2.5bn) increase in federal spending on elementary and secondary schools.

That is a rise of over six per cent, one of the biggest rises for years.

He also announced an even bigger cash increase in student aid to provide more federal grants for poor students and to ease the impact of student debt repayment.

In future, graduates in the US will be "forgiven" their outstanding federal loan debt after 20 years or, if they enter public service, after 10 years.

Posted by Jim Zellmer at February 1, 2010 1:01 AM
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