What we are describing here is the First phase of the formula driven $48.6Bn of the State Fiscal Stabilization Fund (SFSF) , 67% (90% availability in severe economic emergencies) of which ($32.5Bn) is being made available since April 2009 under the American Recovery and Reinvestment Act of 2009 (ARRA). This tranche of funding is awarded to the state Governors by the U. S. Department of Education based on a commitment to advance essential education reforms to benefit students from early learning through post-secondary education