U.S. Schools Race to Spend $122 Billion of Rescue Aid in Time Crunch
- Sample of schools have spent 0.5% to 15% of funds, Burbio says
- Some superintendents want deadline extended to use the money
Photographer: Eva Marie Uzcategui/Bloomberg
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U.S. school districts are racing to figure out how to spend $122 billion of American Rescue Plan stimulus money before a September 2024 deadline, and some districts want more time to distribute the aid.
Spending money might seem easy, but it’s not. Schools need to budget their funds carefully and by law have to consult with various stakeholders before committing to projects. On top of that, contractors and materials have been hard to come by during the pandemic.