Durbin Announces Illinois Approved for $1.4 Billion in Recovery Act Education Funding
[WASHINGTON, D.C.] – Assistant Senate Majority Leader Dick Durbin (D-IL) announced today that $1.4 billion in Recovery Act funding is now available for Illinois to use to fill shortfalls in the state’s education budget and to improve educational outcomes for Illinois students.
“Investing in our children’s future is an investment in our nation’s future,” said Durbin. “At a time when states face difficult choices about filling increasing budget gaps, today’s funding will increase access to education and save teaching jobs around the country.”
Illinois is receiving $1.4 billion today per the State's successful completion of Part 1 of the State Stabilization Application. Illinois is one of only three states to successfully complete applications and be approved for the first round of state stabilization funding. Illinois will be eligible to apply for another $678 million in state stabilization funds this fall.
Of the $1.4 billion in available funds, 82 percent, or about $1.15 billion, are to be distributed to public elementary, secondary and institutions of higher education. The remaining 18 percent will go toward education, school modernization, public safety, or other government services. This is just the first round of state stabilization funding – Illinois is eligible to apply for another $678 million in state stabilization funds later this year.
To date, Illinois has received nearly $500 million in stimulus-related educated funding.