How much does us spend on education?

Public K-12 expenditures total $640.0 billion. Expenditures are equivalent to 3.41% of taxpayer income. K-12 schools nationwide receive $57.34 million total or $1,131 per pupil from the federal government. States contribute a total of $344.0 billion to K-12 public education or $6,785 per student.

How much does the US spend on education 2020?

The President’s budget requests $64 billion for the Department of Education for FY 2020, a $7.1 billion, or 10 percent, reduction from Fiscal Year 2019.

How much did the US spend on education in 2019?

The nation spent $752.3 billion on its 48 million children in public schools in fiscal year 2019, a 4.7% increase from the previous year and the most per pupil in more than a decade.

How much of US GDP is spent on education?

2.6 percent
At the postsecondary level, the United States spent 2.6 percent of GDP on total expenditures on education institutions in 2017, higher than the average of OECD countries (1.4 percent) and higher than the percentages of all other OECD countries reporting data, except for Chile (2.7 percent).

How much money does the federal government spend on education?

Despite this massive surge, however, the federal government’s share of spending for education nationwide in 2014 ($67.3 billion) was almost identical to 2004 when total spending was $67.2 billion. How is this money spent, and how does spending on education compare to other areas of the nation’s economy? Let’s take a look.

What was the budget for the US in 2013?

The budget included 2013 revenues of $2.9 trillion or 17.8% GDP (up from $2.5 trillion or 15.8% GDP in 2012) and spending of $3.8 trillion or 23.3% GDP (similar to the prior year in dollar terms but below the 24.3% GDP in 2012). The projected 2013 deficit was $900 billion (5.5% GDP), down from the 2012 deficit of $1.3 trillion (8.5% GDP).

What was the budget for the Department of Education in 2006?

The Department of Education’s budget increased significantly in 2006, when spending for postsecondary education nearly doubled to $55.9 billion from $28.2 billion in 2005.

When was the last time the US spent money on education?

Subscribe Today! In 2009 Congress agreed to provide nearly $100 billion in addition funding for public education in the upcoming year as part of the American Recovery and Reinvestment Act (ARRA) of 2009. However, following the 2009-2010 year, federal allocations fell dramatically.