Just Because the Ed. Dept. Speeds Up Stimulus Funding...
...doesn't mean states and school districts will spend their money faster.
The U.S. Department of Education announced today that it is releasing nearly $11.4 billion in Title I, special education, and vocational rehabilitation funding a month early to "help save jobs and drive reform," according to a press release. Rather than getting these stimulus funds at the end of September, states and school districts will have access to the money around Sept. 1.
But as we've written before, states have been slow to draw down their allocations. As of July 24, states had only drawn down about 22 percent of their available stimulus funds. So don't think this will necessarily unleash a flood of cash into states.