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Finance


Total Expenditures

Expenditures for public and private education, from preprimary through graduate school, are projected at $1.1 trillion for 2009–10. The expenditures of elementary and secondary schools are expected to total $650 billion for 2009–10, while colleges and universities will spend about $461 billion (see Digest of Education Statistics, 2010, table 29). After adjustment for inflation, total expenditures for all educational institutions rose by an estimated 34 percent between 1999–2000 and 2009–10. Expenditures for elementary and secondary schools rose by an estimated 23 percent during this period, while total expenditures for colleges and universities rose by 52 percent.

The total expenditures for education are estimated to amount to about 7.9 percent of the gross domestic product in 2009–10.


Table 31. Total expenditures of educational institutions and percentage of gro ss domestic product: Selected years, 1980–81 through 2009–10
 
Year               Expenditures
in billions of
current dollars
Expenditures
in billions
of constant
2008–09
dollars1
Percent of
gross
domestic
product2
1980–81 $176 $437 6.3
1985–86 259 512 6.1
1990–91 395 634 6.8
1994–95 485 692 6.8
1995–96 509 707 6.9
1997–98 570 757 6.8
1998–99 604 788 6.9
1999–2000 649 823 6.9
2000–01 705 864 7.1
2001–02 753 907 7.3
2002–03 796 938 7.5
2003–04 830 958 7.5
2004–05 876 981 7.4
2005–06 926 999 7.3
2006–07 984 1,035 7.3
2007–083 1,054 1,069 7.5
2008–093 1,080 1,080 7.5
2009–103 1,111 1,100 7.9
1 Constant 2008–09 dollars based on the Consumer Price Index, prepared by the Bureau of Labor Statistics, U.S. Department of Labor.
2 Gross domestic product data from the Bureau of Economic Analysis, U.S. Department of Commerce.
3 Projected.
NOTE: Includes expenditures for public and private education, from preprimary through graduate school. Some data have been revised from previously published figures.