5¢ Makes Sense
Why 5¢ Makes Sense:
Increase our Investment in Education to 5 Cents of Every Federal Dollar
Investing in education builds a stronger nation.
We need a well-trained and educated workforce ready to compete in a global economy and support our military.
The best way to reduce the deficit is to spur economic growth.
Yet we can’t run businesses, schools and universities, or the public sector if our children don’t grow into adults equipped with the tools they need to succeed.
Education funding for K-12 education is less than it was ten years ago.
In a time of tight budgets, 23 states are on track to provide less formula funding in 2017 than they did ten years ago, cutting the largest source of support for elementary and secondary education. Yet federal elementary and secondary education funding is still below the 2008 level even though public school enrollment has increased by 2.3 percent over those ten years.
The United States spends only 2¢ of every federal dollar on education.
A budget should reflect our values, yet only about 2 percent of the federal budget is for education. Education programs have already been the target of deep cuts; Congress has eliminated 50 education programs since 2010. In fact, current funding for the Department of Education is still below what it was 7years ago, excluding the Pell Grant program.
$1 invested in early childhood education saves at least $7 down the road.
Yet Head Start, the largest federal early childhood education program, is so underfunded that it can serve only 4 out of every 10 eligible children from low-income families.
Earning a college degree increases the average salary by one and half and cuts unemployment rates in half compared with stopping with just a high school degree.
Yet federal student aid has failed to keep pace with inflation, never mind the rate at which college costs have increased in recent years. Increases in federal student aid programs allow low-income students to receive more grant aid to help them enter and finish their degree faster without borrowing more and graduating with more debt.
The U.S. requires that all students with disabilities have access to a free, adequate public education.
In return, the federal government pledged to cover up to 40% of the additional cost associated with educating students with disabilities. Sadly, the federal share has never reached even half of that commitment — reaching an all-time high of 18% through annual appropriations in 2005 — and currently only covers 16% of the additional cost associated with educating students with disabilities.