U.S. spends big on education, but results lag many nations: OECD
The United States is one of the world’s biggest spenders when it comes to education, but with much of the money flowing to the wealthiest students, the country is losing ground to other nations from pre-school through college, according to a report released on Tuesday on educational progress around the world.
The United States spends 7.3 percent of its gross domestic product on education from pre-kindergarten through the university level, according to the report, by the Organization for Economic Cooperation and Development.
The rate, which encompasses both public and private spending, is the fifth highest in the world. But the results don’t match the spending.
America used to have one of the highest college completion rates for young adults in the world. It has now dropped to 14th place, behind countries including Korea, Russia, Ireland and Canada, according to the OECD report .
The United States also falls behind in early childhood education. Just half of 3-year-olds were enrolled in preschool in 2011 compared with more than 90 percent in nations such as France, Italy and Norway, according to the report.
