President Obama Proposes $900 Million Grant For Schools
President Obama is proposing a $900,000 grant aimed at helping low performing schools. The new money would be allocated to schools that are willing to take drastic measures, firing principals, reopening schools as charter schools or shutting them down altogether.
Obama is expected to make a formal announcement on the new budget later today at an education event sponsored by the America's Promise Alliance.
According to the White House, the educations system is in dire need of change. 1.2 million students drop out of school each year and an estimated 70 percent of entering high school freshmen go on to graduate.
The proposed $900 million is in addition to the $3.5 million allocated to under performing schools in last year's stimulus bill.