Overall education spending in the United States is expected to reach a record $493.3 billion for 1993, up 50 percent since 1983, according to the U.S. Department of Education. Public education accounts for $397.3 billion and private education $96 billion. The proportion of U.S. gross domestic product (GDP) spent on education also increased from 6.7 percent in 1983 to a predicted 7.9 percent for the 1993-94 school year. About 94 percent of the funding for public elementary and secondary schools is expected to come from state and local sources, with the federal government contributing the remainder. Spending for elementary and secondary schools is expected to total $279.4 billion. More than 6.6 million preschool and kindergarten children and 48.9 million elementary and secondary students are expected to enroll for fall 1993 with minority children making up an increasing percentage. After declining during the past decade, the number of high school graduates is expected to climb in 1994-95 to about 2.5 million. About 7.9 million people will be employed in elementary-secondary and higher education. The number of students enrolled in and earning degrees from colleges and universities is expected to reach an all-time high during 1993-94. Overall and per-pupil spending at colleges and universities is also expected to increase. Eight tables and five charts detail the results of the findings. (JPT)