On August 10, 2010, President Obama signed the Education Jobs Fund into law.
The program provides $10 billion to states to pay salaries and benefits, and to rehire, retain, or hire employees for the 2010-2011 school year. These funds are specifically targeted at providing educational and related services for early childhood, elementary, and secondary education.
The funds may not be used by the local school districts for administrative expenses, overhead, or other support services. However, states are allowed to retain up to two percent of the total award for administrative purposes.
In order to receive funding, each state was required to submit an application signed by the Governor.
Related Press Releases