In the United States, K-12 schools spend about $612.7 billion annually. This is about $12,612 per pupil. Federal, state, and local governments spend about $720.9 billion annually or $14,840 per pupil. The federal government provides 7.7% of funding, state governments provide 46.7%, and local governments provide 45.6%. On average, the U.S. spends $15,908 per pupil on postsecondary education and $33,063 per pupil on graduate and postgraduate education. The United States allocates about 11.6% of public funding to education, below the international standard of 15%, and spends about 4.96% of its GDP on education, compared to the 5.59% average of other developed nations. The U.S. spends the fifth-highest amount per pupil compared to the 37 other OECD countries, behind Luxembourg, Switzerland, Austria, and Norway.