U.S. education spending tops global list, study shows
The United States spends more than other developed nations on its students' education each year, with parents and private foundations picking up more of the costs, an international survey released Tuesday found.
Despite the spending, U.S. students still trail their rivals on international tests.
The Organization for Economic Cooperation and Development — which groups the world's most developed countries — writes in its annual report that brand-new and experienced teachers alike in the United States out-earn most of their counterparts around the globe.
The findings, part of a 440-page tome of statistics, put the United States' spending on its young people in context.
The United States spent more than $11,000 per elementary student in 2010 and more than $12,000 per high school student.
United States spent $15,171 on each young person in the system — more than any other nation covered in the report.
That sum inched past some developed countries and far surpassed others. Switzerland's total spending per student was $14,922 while Mexico averaged $2,993 in 2010.
As a share of its economy, the United States spent more than the average country in the survey. In 2010, the United States spent 7.3 percent of its gross domestic product on education, compared with the 6.3 percent average of other OECD countries.