Why Bill and Melinda Gates Wasted $500M on US Education (INFOGRAPHICS)
Apart from making a stellar business union, Bill and Melinda Gates are philanthropists famous for giving away to the world community. As of today, Bill and Melinda Gates Foundation has invested $41.3 billion into the four major grantmaking areas: Global Development Program, Global Health Program, Global Policy & Advocacy Program, and United States Program.
Only in the US, Bill and Melinda Gates Foundation spends $500 million on education annually. In the next 5 years, the foundation intends to invest in the US educational system a total of $1.7 billion. This enormous sum will be distributed as follows:
- 60% to fund curriculum improvements and help identify local issues
- 25% to fund "big bets"
- 15% to invest in charter education improvements
In the 2018 Open Letter published on February 13, Bill and Melinda answered 10 toughest questions they get asked frequently. They believe that the biggest challenge of modern education is inequality “for students of color and low-income students” and putting the maximum effort to fight it. And yet, they have admitted that fighting it isn’t easy.
The 2018 Open Letter: Why the Gates are Revising Funding Policies?
The Open Letter shows clear dissatisfaction with the way the donated funds are being allocated. So, the Gates are intending to revise their approach. In 2008, they invested significant sums of money into designing proper evaluation systems for teachers. The idea was to estimate the teachers efficiency and expertise based on student standardized test scores.
According to Business Insider, 30 US states require their Schools to use the test scores in teacher evaluation. 2009 was marked as the inception of the Common Core standards that indicate the amount of knowledge K-12 students should acquire by the end of each grade. The achievements of students evaluated using the Common Core standards turned out quite disturbing.
The National Assessment of Educational Progress (NAEP) showed a decline in the math test scores and a flatline in reading. Given the disappointing results, Melinda Gates explained the new strategy taken to improve middle and high schools across the US.
The new approach aims at helping educators develop and introduce their own school/community specific strategies. Among other things, the foundation will assist teachers and administrators with data collection and analysis, and invest in the strategies that work.