America’s Trillion-Dollar School System: 5 Trends Explain Where the Money Goes

The 2023-24 school year saw K-12 public education in the U.S. receive $1 trillion in revenue, with 22% more inflation-adjusted funding than a decade prior despite a 1.1% decline in student numbers. Per-student spending varied widely, from over $30,000 in New York and D.C. to around $11,000-$12,000 in states like Idaho and Utah, while teacher salaries increased nominally but not in inflation-adjusted terms.