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News Brief

12/30/13

Race to Top States Still Have Lots of Money to Spend

Education Week (12/30/13) McNeil, Michele

Financial reports from the U.S. Department of Education say the 12 states that won Race to the Top funds have a significant amount of money left to spend in the final year of Race to the Top implementation. Out of the $4 billion in grant money distributed, $1.8 billion, or 46 percent, has yet to be spent. As of Nov. 30, New York, for instance, had yet to spend 50 percent of its $700 million award, and Delaware had 31 percent of its award left. Some states were granted "no-cost extensions" for small components of their winning plans, giving them until July 1, 2015, rather than summer 2014, to spend the money.
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