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Fact Book 2009/2010
  • The McGraw-Hill Companies Reports 43.2%
    Increase in Fourth Quarter EPS (Jan 26) More
  • McGraw-Hill Increases Dividend; Will Resume
    Share Repurchase Program (Jan 20) More

Growth in Education Funding

In February 2009, President Obama signed into law a $787 billion economic stimulus bill, the American Recovery and Reinvestment Act (ARRA), which provides more than $100 billion in supplemental education appropriations for fiscal years 2009 and 2010 (ending September 2010 and September 2011, respectively). The ARRA includes two types of funding: (1) a one-time $53.6 billion appropriation known as the State Fiscal Stabilization Fund (SFSF) program (includes $5 billion for a discretionary competitive fund to be awarded by the U.S. Secretary of Education), and (2) additional grants to the states. The grants to the states provide funds for specific pre-K–12 programs that use instructional materials and diagnostic or formative testing, including $12.2 billion for IDEA (special education) and $13 billion for Title I (disadvantaged students). The Act also provides Pell Grant funding for higher education.

American Recovery and Reinvestment Act of 2009

American Recovery and Reinvestment Act (ARRA) Timeline for Education Appropriations

American Recovery and Reinvestment Act (ARRA) Timeline for Education Appropriations