About a quarter of the new money is aimed at low-income pupils, to help with the achievement gap.
His pick for Education secretary, Chicago's Arne Duncan, faces a divide among Democrats.
Among the potential changes: college at 16, teacher-run schools, and state exams with assignments.
A growing chorus of business and education-reform advocates are hoping the next president will create a ‘Sputnik moment’ for education.
Minorities and the poor make the most progress, narrowing the performance gap. Are federal reforms working?
New studies echo a key call from landmark 1983 report: boost teacher training and pay.