As you can well imagine, June 15 was a magical day for education grant-seekers across the country: If you read the front page story in the August edition of eSchool News ("Ed to win with Gates, Buffett"), you know that billionaire investor Warren Buffett announced he would begin giving his fortune away to five foundations now, rather than waiting until his death. And, the recipient of the biggest chunk of his donation will be the Bill & Melinda Gates Foundation, which has championed education reform.

What makes this gift so incredible is the dollar amount that will be added...

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