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The National Center for Education Statistics' (NCES) cites the U.S. total for elementary and secondary public school expenditures for "interest on debt" at nearly $11.5 billion dollars, based on the 2002-2003 school year - the most current publicized figures for this category. Voter-approved school bonds funded by property tax increases are usually the top source of interest on debt. Loans and lease agreements also contribute to the problem.
According to NCES, "interest on debt" expenditures are "long-term debt (i.e., obligations of more than 1 year)."
In the table below, the "state average interest on debt per student" was calculated by dividing each state's "total interest on debt" by the state's "total student membership." Per student state average figures are rounded to the nearest cent.
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Eagle Forum
