It’s no secret that education is a key part of advancing a society and rebuilding the economy.
During the election last year, President Barack Obama said he would be committed to enriching education in America. A year later, Obama stays true to his word with the new $4.35 billion federal program Race to the Top.

The program is not a free loan, however. In order to receive any of the funding, states have to improve their education systems.

Using the $4.35 billion as a reward rather than an upfront paycheck for every state is a smarter way of ensuring that the money is actually going to improving school systems. Funds are expected to be handed out in January.

The Race to the Top is set up as a competition between each state. Whichever state improves their education the most will receive more funding.

This a unique approach to a growing problem. It ensures that improvement is rewarded instead of simply using more money for a plan that isn’t working.

A similar system should have been used for Wall Street. By simply receiving billions of dollars, companies were not required to prove that stimulus money they took was being used in a productive manner. Instead of paying back the American people, profits from Wall Street are going toward paying huge bonuses for CEOs who do little to help America.

The other positive side of this fund is that student achievement will become a direct link to evaluating teacher performance. It makes perfect sense to link the two, since a good teacher will no doubt produce the smartest students. Teacher accountability is an important factor in improving education. Teachers that are not up to par with education standards need to be retrained or, in an extreme case, let go.

Hopefully, the Race to the Top will spur competition and create the better education it intends to. When every state is motivated to compete and improve their education system, it’s the students who win. Ultimately, America’s future becomes a little brighter.

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