Iowa will be applying for Race to the Top funds in round two. Apparently, participating districts are eligible to directly receive only half of the Race to the Top award, if any. That amounts to 87.5 million dollars over four years. Which is $45.86 per student (based on 2008-2009 public school enrollment). Or a budget increase of 0.48% each year for four years (based on 2009-2010 K-12 budget). That’s less than one-quarter of the allowable growth this year.