US public K-12 spending topped $857B in 2024

State and local governments fund very different services

Local governments allocate 39% of their spending to K-12 education, while states allocate less than 1% directly—although much of local education funding actually comes from state and federal grants to local communities. States instead allocate their budgets to public welfare and health programs (45%) and higher education (15%).

The average cost for an in-state, public university is close to $30K per year

To cover the cost, students turn to a variety of sources. Parental contributions plus savings funds cover about half of the expenses on average, with students relying on other sources—typically federal aid, in the form of scholarships and loans—to cover the rest.

One in seven US tax dollars is collected by local governments

Local governments collect about $886B each year to support education, infrastructure, and public health. Roughly three-quarters of this funding comes from property taxes, with the rest sourced from sales, excise, and income taxes.

The federal government sent roughly $1.1T to state and local governments in 2024

Federal grants support a large portion of state and local budgets, funding Medicaid, infrastructure, education, and housing. In FY 2024, these transfers made up about 16% of total federal spending.

The average cost of college has doubled in the 21st century

Even for students attending in-state, public universities, the cost of attending college has risen dramatically, exceeding $27K with fees and living expenses per year.

Federal government supports—but doesn't run—K-12 schools

The Department of Education contributes about 8% of K-12 funding and administers targeted grants, civil‑rights enforcement, research, and data collection. Crucially, it is legally prohibited from directing curriculum, personnel decisions, or instructional content, leaving that control to states and districts.

Use this calculator to find out what your federal income taxes pay for

In the fiscal year 2024, the US federal government's biggest spending priorities included $1.5T on Social Security, $877B on national defense, and $874B on Medicare. This calculator from the Microsoft AI for Good Lab can help you estimate how your tax dollars are allocated across $6.8T in federal spending.

Private school demographics in the US

Private school is a costly alternative to public school. As a result, there are numerous demographic differences between public and private school attendees, typically tied to income level. This source presents the latest statistics about private school attendance, as well as a searchable database to see the differences for schools near you.

The most expensive private schools in the US

Private schools can offer students specialized education and one-of-a-kind opportunities, but those often come with a price, with some schools charging close to six figures. Check out this list of the four most expensive American private schools, which charge more than most four-year colleges.

Approximately 10% of American K-12 students are enrolled in private schools

Around 75% of those students attend religiously affiliated institutions. In Hawaii and Washington, DC, 19% of students attend private schools, the highest enrollment percentages in the country.

Private K-12 schools rely on tuition; colleges rely on funding for research

Tuition, endowments, donors, and grants often fund private schools, allowing them to eschew national curriculum standards. Private colleges and universities also charge tuition, but often rely on federal funding for research.

An analysis of the National Science Foundation's historical budget and spending

The NSF accounted for 0.1% of all federal spending in FY2024, with $9.39B—just over twice its FY1991 spending—out of $6.78T overall. Almost 99% of these funds ($9.29B) went to general science and basic research, with the rest allocated to national defense.

Police spending is one of the largest budget items for local governments

Local governments finance most of the costs for police in the US. Total state and local criminal justice spending—covering police, courts, and corrections—reaches hundreds of billions of dollars annually.

Here's how much money Americans spend on Halloween

In 2024, Americans are expected to spend more than $11B on Halloween, which averages out to roughly $104 per person, according to the National Retail Federation's Halloween Spending Survey, conducted by Prosper Insights & Analytics. That $11B number includes an anticipated almost $4B spent on costumes. See the full breakdown here.

The EPA budget was 0.2% of total federal spending in 2024

The EPA spent $13.7B in 2024, making it 23rd among federal agencies in total expenditures. Of that money, more than half was distributed to state environmental agencies for sustainability and environmental protection programs.

Visualizing how Americans spend their money

Almost half of all American consumer spending goes toward transportation and housing, at least according to 2023 data from the Consumer Expenditures Survey by the Bureau of Labor Statistics. The survey found that the average American spends roughly $25K per year on housing. This colorful pie chart helps visualize shows how the average American spends their annual earnings—click here to see it.

In 2020, government entities spent $316.5B on infrastructure, with state and local governments accounting for 34.8% of that amount.

The federal government has spent more money annually than it has collected every year since 2022

The government borrows money to cover this deficit, which increases the national debt. It’s the fourth most expensive spending category in the US budget.

The Department of Justice spent $44B in 2024

In fiscal year 2024, the Department of Justice spent approximately $44B—making it the 14th-largest federal agency by total spending. Its budget funds law enforcement activities, prosecutions, prisons, and grants to state and local justice initiatives.

15 states offer school voucher programs, serving nearly 350,000 students

Voucher programs direct public K–12 funding to families in the form of tuition grants for private schools and are typically targeted to low-income or special-needs students.

US child care costs, mapped

It's no secret that child care in the US is expensive, but this map provides more color to that observation by showing the average annual price of child care in licensed child care centers for infants, by state, in 2023. South Dakota, for instance, had the lowest infant child care cost at $7,862 per year. See how the rest of the states fared here.

The average American household spends over $3K annually on dining out

The exact number is $3,228, or $269 per month. WalletHub found the number by crunching the data reported by the US Bureau of Labor Statistics between 2014 and 2023.

US teachers' earnings have declined since 2010

Although teachers are among the nation’s most educated workers, they earn far less on average than most other highly educated workers. More than 95% of elementary, middle and high school teachers have a bachelor’s degree or more. In 2019, the average earnings of elementary and middle school teachers with a bachelor’s degree or more who work full-time, year-round was $53,800. For high school teachers, it was $57,840.

The average American contributed nearly $6,000 to a 401(k) account in 2023

That's an increase over the previous year—and roughly 8% of their total income. When employer contributions are factored in, the total average contribution to 401(k) accounts rose to $8,618 in 2023, up from $8,362 in 2022 and $8,236 in 2021.

In 2024, the average US wedding cost was around $33K

That's up from $29K in 2023, according to this 2024 weddings report. But that’s not the only surprising fact from the report: For instance, 89% of couples started wedding planning before getting engaged.

Nearly half of the discretionary funding in the US is allocated to national defense

The US accounts for roughly 35% of global military spending, with defense taking up nearly half of discretionary funds. In this discussion, Michael E. O'Hanlon of the Brookings Institution explains why these levels are so high—and how they compare historically.

The Elementary and Secondary Education Act of 1965 provided federal aid to tackle inequity in public schools

Signed into law April 11, 1965, ESEA authorized over $1B in grants during its first year—boosting Title I programs which now provide $18.4B annually to support low-income students.

Mental illness in the US costs roughly $282B annually nationwide

That figure, estimated as part of a 2024 Yale analysis that aimed to better understand the macroeconomic implications of mental illness, included the costs of mental health treatment, income loss, and overarching economic setbacks associated with mental illness.

In 2024, the US committed about $82.3B to foreign aid.

That year, 67.2% of foreign aid was for economic purposes, and the remaining 32.8% was for military purposes. Israel received more US foreign aid than any other country in 2024.

Just 7% of student loan borrowers account for 40% of outstanding student loan debt

Most student loan debt went to support graduate studies. Total student loan debt in the US is more than $1.6T. Downloadable tables show the raw data behind federal student aid.

Graduate/professional schools often cost more to attend than undergraduate schools

Grad and professional school cost more than undergraduate schools. Individuals with advanced degrees owe many times more than graduates with bachelor’s degrees. For example, the average student debt held by a PhD was around $125K in 2023, while those with undergraduate debt averaged $37K.

Explore an interactive chart that shows peoples' annual salaries by occupation

The median salary for full-time workers in the United States was roughly $49.5K in 2024. An interactive chart details how salaries differ by occupation.

US school distrists have greatly consolidated since 1940

Consolidation significantly decreased the number of independent school districts from approximately 117,000 in 1940 to just over 13,000 today, mainly driven by efforts to boost efficiency and balance funding across communities.

US defense spending peaked during the Korean War at 13% of GDP

In 1953, during the Korean War, US defense spending reached 13.58% of GDP—more than three times today’s level. That peak marked the most militarized moment of the Cold War, and spending has never returned to that level since.

The US lags behind other developed countries in math and science scores

The Programme for International Student Assessment, administered every three years by the OECD to 15-year-olds, scores US students below the OECD average in math (465 vs. 472) and only slightly above average in science (499 vs. 485). These figures place US pupils in the lower half of developed nations.

College football generates over $11B annually—but many programs run at a loss

Despite total revenues surpassing $11.5B in 2024, college football’s high operating costs—$14.5B in the same year—mean only a handful of top programs turn large profits, while most run at a loss.

The USPS spent $3.97B in 2024, accounting for .058% of the federal budget.

Public school districts are subsidizing housing for their teachers

In the face of stagnant wages and a widespread teacher shortage, some public school districts are offering subsidized housing for teachers, hoping the benefit will attract and retain highly qualified educators. California has been at the forefront since 2016, with housing complexes constructed in expensive areas like San Francisco and Daly City.

Hawaiian households spent 33% more on groceries than the US average in 2025

At $157 per week, Hawaiians had the highest average weekly grocery bill out of all the US states in 2025. Arkansas residents spent the least on groceries at $111 per week.

Voter turnout in local elections is significantly lower than for national elections

While 64% of eligible voters cast ballots in the 2024 presidential election, turnout in municipal elections is usually below 15%. For school board elections—where members oversee more than 50 million students and $600B in spending—turnout is often around 5%-10%.

From 2014-25, US private sector data center investments have increased more than 25-fold

The annualized rate of US data center construction has ballooned from $1.6B to $41.1B, creating a market for data centers whose infrastructure costs and land, power, and transmission capacity demands rival those of offices and industrial facilities.

The largest university endowments in the US

This US News article ranks the 20 universities with the largest endowments in the United States, based on data from the 2022 fiscal year. Harvard tops the list at more than $50B, followed by Yale, Stanford, and Princeton. Check out this snapshot of how these financial resources support academic programs, research, and student aid.

State governments have public pensions for their employees

In many US states, these pensions are set aside for teachers, firefighters, and/or other state government workers. However, many of these pensions are currently underfunded. This map provides a visual representation of how strong each US states’ public pensions are.

How much do you pay in gas taxes?

The average national price jumped from $3.02 to $4.12 per gallon between March and April in 2026, but state prices range widely, from $3.66 in Texas to $5.79 in California, driven by differences in taxes, proximity to supply, and local competition.

Explore a college affordability and transparency guide

From the US Department of Education, this portal provides everything you need to evaluate colleges. The college scorecard provides handy data on every school, from graduation rates to annual average earnings out of school, while the net cost calculator directs you to each school's calculator that allows you to estimate the cost of college based on your unique circumstances.

It cost the IRS $0.36 to collect $100 in 2024

It costs the IRS a significant amount of money to do part of its job—collecting money. For instance, the Internal Revenue Service spent $16.1B to collect $4.7T in taxes in 2023.

Explore 2024 polling on curriculum debates relating to social issues

A 2023 nationwide Pew survey found that 56% of K–12 teachers report discussing race or racial inequality in class, while only 29% mention LGBTQ topics. Many teachers (41%) say these debates have negatively impacted their work.

In 2024, US private equity posted an 8.1% return

Tracked by Cambridge Associates, 2024 performance saw limited partner distributions overtake contributions for the first time in years. Cambridge Associates, a leader in the space, typically uses a 2.0x+ MOIC (Multiple on Invested Capital) as a benchmark for top-quartile PE fund success.

Homeschooling doubled during the Coronavirus pandemic

After explosive growth, the trend continued. During the 2024-2025 school year, it increased at an average rate of 4.9%, nearly three times the pre-pandemic rate of around 2%.

Explore internet usage data, including how humans consume 1.2 billion years of content yearly

About half this time consists of content from social media platforms, where the average user spends about 18.5 hours weekly. An estimated $3.66T was spent on consumer goods by online shoppers in 2025, though nonconsumer goods, such as flights and hotel stays, greatly increase this estimate.