Federal Bailout Cash for Iowa Schools

From this week’s House Republican Newsletter:

Iowa to Gain $560 Million in Federal Stimulus Money for Education

Iowa stands to gain $560 million in education funding through the so-called federal stimulus bill. The real question is how will we sustain it two years from now?

The maximum K-12 portion works out to 16% percent Allowable Growth.

The sheer magnitude of the federal stimulus plan hit home yet again this week as the Congressional Research Service issued state-by-state, program-by-program estimates for the education part.

Iowa would get $312 million each year for two years under the largest education stimulus program, a general block grant. The money can go for any education expense benefiting students age 5 – 24. Early indications give governors the nod to divert up to 40 percent of these block grant funds for “public safety or local government.”

Special Education get a $67 million two-year increase. Title I, the federal low income elementary and middle school program, would realize a $27 million boost. K-12 technology’s slice is $2.5 million.

Iowa’s K-12 schools are offered a one-time $72 million in school modernization money and higher education gets $80 million for their infrastructure.

Watch out Iowa taxpayers.

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Dansette