November 20, 2008 CBS MarketWatch
NEF Offers $100 Million Matching Grant
to School Districts
To Help Disadvantaged School Districts Nationwide Receive
$1 Billion Federally Aided Funds to Avert Fiscal Crisis
ALEXANDRIA, VA. November 20, 2008 --Dr. Appu Kuttan, Chairman
of the National Education Foundation (NEF), the nonprofit leader
in bridging the digital and academic divides, announced today
a nationwide $100 million matching grant initiative for schools.
With most states awash in red ink and with several states proposing
to cut K-12 education funds, NEF is working to leverage a $1 billion
dollar U.S. Treasury program that permits the states to allow
school districts to borrow money at zero interest to support the
critical needs of disadvantaged schools — the most vulnerable
group in the current fiscal crisis.
This Federal program is known as Qualified Zone Academy Bonds
(QZAB). NEF has teamed up with banks to make it possible for all
eligible schools -- those with 35% of students on free or reduced
lunch -- to receive QZAB funds for renovation, equipment, curriculum,
professional development etc. NEF also donates the 10% match required,
and helps to build a world class CyberLearning Academy that enables
students to acquire key 21st Century workforce skills.
NEF’s high quality K-12 CyberLearning online courses are
particularly focused on the critical STEM (Science, Technology,
Engineering, Math) skills to help address a mounting education
crisis. NEF’s QZAB CyberLearning Academies also provide
teacher training, technical support, 24/7 live mentors, teacher
stipends, student rewards (iPods) and parent recognition, thus
offering a complete solution with proven 25-50% increases in student
scores.
NEF President Dr. Appu Kuttan argues, “Our students desperately
need help to compete with their counterparts in India, China,
Europe, etc. for the 21st Century jobs. We are already 24th out
of 28 countries in math skills of 15-year olds! For us to maintain
our technology and economic leadership, we must help our disadvantaged
students now! Our program helps schools to get funds to improve
facilities, equipment, energy efficiency, IT programs etc., and
at the same time, helps to improve student scores significantly.”
“NEF gave us 10% match, helped us to receive $8 million
in QZAB funds at zero interest and set up a QZAB Academy that
has increased student math and technology scores by 25-50% every
semester,” states Camella Mouton of the St. Landry School
District in Louisiana.
QZAB matching grants are provided on a first-come, first-served
basis. To apply for the grant, just visit www.nefusa.org
and click on $100 Million QZAB Grants."
Contact: Dr. Laurence Peters, VP, National Education Foundation
Tel: 703-823-9999 Email: lpeters@cyberlearning.org
Website: www.nefusa.org
