Obama Proposes 2.5% Increase in Spending on Education

President Barack Obama asked for almost $70 billion in education spending, a 2.5 percent increase over last year, while he cut several other agencies’ requests.

Obama’s 2013 proposal includes a three-year, $8 billion plan to shore up career programs at community colleges that would be co-administered by the Education and Labor departments. The proposed budget would also keep interest rates on federal Stafford loans for college students from doubling to 6.8 percent, according to White House documents released today.