The Obama Administration spent an unprecedented $4.35 billion in Stimulus money to create an incentive for states to join the Common Core Standards and compete in the Race to the Top competition.
All but five states (Virginia, Texas, Nebraska, Alaska, and Minnesota) jumped on the Common Core bandwagon, salivating for an outsized piece of the $4.35 billion in Stimulus money.
Bad fiscal decision.
A new cost analysis commissioned by the American Principles Project (Washington, DC), the Pacific Research Institute (San Francisco, CA), and the Pioneer Institute (Boston, MA) and conducted by Accountability Works discovered that the implementation of the Common Core will result in a $10.5 billion in upfront costs.
Over the first seven years, at least $16 billion will be spent. This does not count the costs associated with the other Race to the Top recommendations, like centrally managed teacher pay structures.
Of course, most states signed onto the Common Core, received none of the Race to the Top funds, and are stuck with the collective $16 billion tab.
This is what happens when a massive change is conducted without the consent of any legislatures (Congress, state legislatures, and local school boards were never given an opportunity to weigh in). However, they will be stuck with the responsibility to raise the taxes necessary to fund the endeavor unless they find a way out of the state contracts with the Department of Education.
The press release announcing the study is here. The cost analysis may be viewed here.
Update: You can read the study embedded below as well.