RTTT is a Federal Department of Education grant program, established as a part of the American Recovery and Reinvestment Act of 2009. $4.35 billion dollars have been allocated to the program.

You can read all the details of the federal program at the US DOE website.

A few key points:

• $4.35 billion dollars.
• Governors need to apply on behalf of their states.
• One half of the money granted to a state must be distributed to Title 1 districts. The state has some discretion over how the other half is allocated.
• First round applications are due January 19, 2010. Second round June 1, 2010.
• There are significant strings attached to accepting the funds...

And to get a sense of what the attached strings are, here is an extract from the official Notice Inviting Applications.

Federal Register/Vol. 74, No. 221/Wednesday, November 18, 2009/Notices

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DEPARTMENT OF EDUCATION
Overview Information; Race to the Top
Fund; Notice Inviting Applications for
New Awards for Fiscal Year (FY) 2010

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Purpose of Program: The purpose of the Race to the Top Fund, a competitive grant program authorized under the American Recovery and Reinvestment Act of 2009 (ARRA), is to encourage and reward States that are creating the conditions for education innovation and reform; achieving significant improvement in student outcomes, including making substantial gains in student achievement, closing achievement gaps, improving high school graduation rates, and ensuring student preparation for success in college and careers; and implementing ambitious plans in four core education reform areas:

(a) Adopting internationally-benchmarked standards and assessments that prepare students for success in college and the workplace;

(b) Building data systems that measure student success and inform teachers and principals in how they can improve their practices;

(c) Increasing teacher effectiveness and achieving equity in teacher distribution; and

(d) Turning around our lowest- achieving schools. Priorities: These priorities are from the notice of final priorities, requirements, definitions, and selection criteria for this program, published elsewhere in this issue of the Federal Register.

Absolute Priority: For FY 2010, this priority is an absolute priority. Under 34 CFR 75.105(c)(3), we consider only applications that meet this priority. Applicants should address this priority throughout their applications.

Priority 1: Absolute Priority--Comprehensive Approach to Education Reform.

To meet this priority, the State's application must comprehensively and coherently address all of the four education reform areas specified in the ARRA as well as the State Success Factors Criteria in order to demonstrate that the State and its participating LEAs are taking a systemic approach to education reform. The State must demonstrate in its application sufficient LEA participation and commitment to successfully implement and achieve the goals in its plans; and it must describe how the State, in collaboration with its participating LEAs, will use Race to the Top and other funds to increase student achievement, decrease the achievement gaps across student subgroups, and increase the rates at which students graduate from high school prepared for college and careers.

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