U.S. President Barack Obama participated in a live half-hour interview on NBC's TODAY show with Matt Lauer talking about education as part of the "Education Nation” summit. Watch the interview here:

Read the transcript at: http://today.msnbc.msn.com/id/39378576/ns/today-parenting

Some highlights from the interview:

• Statistics on US students—1/3 of students don't graduate; 1/3 new grads are not college-ready; only 35% are proficient at reading;
• Money without reform will not fix the problem
• Reform agenda—increase standards; best teachers; reducing bureaucracy; deploying resources effectively;
• Race-to-the-Top
• Unions need to be part of the solution
• Lift and honor the teaching profession
• Lottery systems for quality schools and charter schools
• Accountability and involvement from parents
• Train 10,000 new math and science teachers
• Longer school years
• Quality of public and private schools
• Inspiring the next-generation of teachers
• Educations role in reviving and sustaining the economy