If children are hungry, they need to be fed. It's hard to learn if your stomach is growling. We need to take that on. If students can't see the blackboard, need eyeglasses, we need to do that. If students need a social worker or counselor to work through the challenges they're facing at home in the community, we need to do that.

I think every student needs access to technology, and I think technology can be a hugely important vehicle to help level the playing field.

I think the best thing that happened to the education system in New Orleans was Hurricane Katrina.

This is a devastating problem, is, the longer our children are in school, the worse they do. Year after year after year, our children in America are falling further behind. Our 3- and 4-year-olds enter kindergarten OK, and they fall further and further behind. Each year, children in other countries are learning more than children in this country. And so the gap between American student performance in Singapore and Finland and South Korea and Canada and these other countries, the gap widens year after year after year.

We need to invest in very different ways. Get the students the support they need, get them the best principals, get them the great teachers, and I promise you those students would do extraordinarily well. I have seen it all my life.

Even in a time of fiscal austerity, education is more than just an expense.

At a time when going to college has never been more important, it's never been more expensive, and our nation's families haven't been in this kind of financial duress since the great depression. And so what we have is just sort of a miraculous opportunity simply by stopping the subsidy to banks when we already have the risk of loans. We can plow those savings into our students. And we can make college dramatically more affordable, tens of billions of dollars over the next decade.