Obama Says More Money, Reform Will Boost Education

President Barack Obama says the best way to improve the nation's education system is with more money and more reform.

Answering questions at the first online town hall from the White House, Obama said Thursday that greater investment in early childhood education and rewarding talented teachers would significantly improve the system.

He said the current school system -- with three months off at midyear -- was designed for an agriculture society centuries ago.

Obama said the only reason he had been elected president was because of the education he received, in large part through scholarships and his family's sacrifice. Obama graduated from Columbia University and Harvard Law School.

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