President Obama took office just 100 days ago. Since then, we at ED have designated about $100 billion in stimulus funds to save education jobs and drive reform in classrooms. We made the first $44 billion available to states within the first 100 days of the Administration. I’ve visited 14 cities and 12 states to meet with more than 300 groups across the country to talk about how to apply for and receive stimulus funds.
In the first 100 days, we also worked with the President on a proposed budget for 2010 that will significantly improve opportunities for college students. This budget increases Pell Grant funding by $117 billion over the next ten years. It also eliminates bank subsidies on student loans, a step that would allow Congress to finance 95 percent of the higher Pell Grants.
We’ve done a lot in a few short months, but there’s much work ahead as we try to improve education for over 80 million students in schools across the nation. I invite you to read our progress report. With your help, we’re determined to build on the successes of the past 100 days.