The real cost of K-12 education in Indiana.
Last year I decided to research the annual average cost per student for K-12 education in Indiana. I ended up using two sources for all of my statistics; I used Stats Indiana and The National Teachers Association.
Below is a summary of the average cost of Education in Indiana for 2004:
Expenses per student (Not counting Capital Outlays or Debt Service) = $8592 per year.
Capital expense per student (New buildings and large projects) = $1026 per year.
Interest expense per student (Interest on school bonds) = $836 per year.
LAST year, the cost to educate the average student in Indiana was $10,787 per year per student! This cost is paid each year K-12.
This money comes from a variety of sources, some is Federal taxes, some is State taxes, and the majority of the funding comes from Property taxes.
Real spending (Adjusted for inflation) on Educations has tripled in the last forty years. Forty years ago we had the best education system in the world. Today our education system is mediocre.
We need to fix our education system. Education is critical. Spending more money on education is not the way to fix the system. If spending more money on education was the answer, our education system today would be three times as good as it was forty years ago…