(The Center Square) – School districts across the country have significantly increased spending since 2020, even as they face steep declines in student enrollment and academic performance, according to a new analysis from the Reason Foundation.

The report finds American public schools are nearing $1 trillion in annual spending, almost a 35% increase between 2002 and 2023. During that period, the average per-student spending rose from $14,969 to $20,322.