OECD: U.S. One of Biggest Spenders on Education, Results Lag Far Behind

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.

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