Obama pushes businesses to invest $118 million in education

President Obama met this afternoon with business and non-profit groups dedicated to improving the nation’s school systems, and with the hope to come away with at least $118 million in pledges.

The point is to improve the qualifications of the nation’s workforce, making it more competitive with other countries. To get there, Obama invited Colin and Alma Powell, the leaders of America’s Promise, and more than a dozen business leaders to the White House.

During the session, these commitments to education were made, the White House says:

* $50 million from America’s Promise to help curb dropouts and prepare young people for colleges and careers.

* $50 million over three years from Bank of America for programs that help people get through college — particularly the underserved, unemployed, returning veterans and people with disabilities.

* $15 million from Microsoft to help research and develop new learning technologies, such as game-based instruction and a lifelong learning digital archive.

* $3 million from Nike, to make $10 million in all, for Oregon’s secondary school reforms.

“A world-class education is the single most important factor in determining not just whether our kids can compete for the best jobs but whether America can outcompete countries around the world,” Obama said. “America’s business leaders understand that when it comes to education, we need to up our game. That’s why we’re working together to put an outstanding education within reach for every child.”

Source: USA Today