[caption id="attachment_23950" align="alignleft" width="300" caption="Duncan said grants will fund sustainable programs that create educational change. "]ArneDuncanAtDeptEd[/caption]

U.S. schools will have a chance this fall to compete for part of $650 million in new "innovation" funds that are intended to reward districts that have designed and tested effective, scalable systems for boosting student achievement, improving failing schools, retaining top-notch teachers, and increasing graduation rates.

The Investing in Innovation Fund (i3) is intended to expand programs that advance the goals of the U.S. Department of Education (ED), while at the same time investing in programs that...

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