(Associated Press) The Obama administration unveiled plans Wednesday to create an elite corps of master teachers, a $1 billion effort to boost U.S. students’ achievement in science, technology, engineering and math.

The program to reward high-performing teachers with salary stipends is part of a long-term effort by President Obama to encourage education in high-demand areas that hold the key to future economic growth — and to close the achievement gap between American students and their international peers.

Teachers selected for the Master Teacher Corps will be paid an additional $20,000 a year and must commit to participate multiple years. The goal is to create a multiplier effect in which expert educators share their knowledge and skills with other teachers, improving the quality of education for all students.

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