Targeted philanthropic investments totaling $4 billion over ten years could transform American schools and enable every student to finish high school with a broad set of life choices, a report from the New Schools Venture Fund finds. According to the report, Reimagining Learning: A Big Bet on the Future of American Education (28 pages, PDF), schools today need to help students develop critical thinking skills, set goals, create life plans, and develop the mindsets and habits needed to achieve those plans. To that end, the report calls for investments in "innovative schools" that embrace an expanded definition of student success; optimize time, instructional methods, outside experiences, and technology; and give students opportunities to develop meaningful relationships and a sense of ownership with respect to their learning. A $4 billion investment — about 20 percent of total expected philanthropic funding for K-12 education over the next ten years — would help 7 percent of U.S. schools shift to such a model. The report calls for $3 billion to expand innovative schools, including $800 million to create new district and charter schools; $1.4 billion to redesign existing schools; $800 million to strengthen supporting organizations within the ecosystem; $700 million in targeted technology investments, including $600 million for research and development and $100 million to address market gaps in ed tech; and $200 million for a public awareness campaign, including $150 million for coalition building and $50 million to generate outcomes evidence and implementation stories.