The Obama administration has released the first round of school dollars from the economic stimulus package.
Education Secretary Arne Duncan made the announcement Wednesday at Doswell Brooks Elementary School in the Maryland suburbs, just outside of Washington.
The administration made available half of the dollars for federal programs that fund kindergarten through 12th grade and special education. In addition, Duncan will provide applications for states to get money from a special fund to stabilize state and local budgets.
President Barack Obama says the stimulus law will save teachers' jobs, although there is no estimate of how many jobs will be rescued. Nationwide, about 294,000 teachers -- 9 percent -- may face layoffs because of state budget cuts.