President Barack Obama wants academic standards for America's high school students raised to meet global standards, and he is applauding a program from the state governors that works toward those goals. In a release issued Sunday, the White House said the initiative will develop and implement new reading and math standards that prepare high school student for college and careers. The governors will call on Obama on Monday, as they wrap up their National Governor's Association meeting, to discuss the blueprint to prepare students to meet the challenges of the 21st century and stay competitive with their counterparts around the world. «Because too many students are not learning the basic skills needed to succeed in college or work while they are in high school,» the White House said in a release Sunday, «the nation sacrifices more than $3.7 billion a year in lost productivity and remedial education costs.» The White House said the governors have been working on the president's Race to the Top program, which rewards school systems that raise standards and prove that through tougher student assessments. At the same time, the White House said that too many states are churning out graduates who are unprepared either for college or career. In addition to supporting ongoing state efforts, the White House said the president will commit an additional $350 million to the Race to the Top challenge to back «state-led partnerships to develop new, state-of-the art assessments aligned to college and career-ready standards.» According to the White House, the president's 2011 budget will call for the reauthorization of the 1994 version of the Elementary and Secondary Education Act, which would require states to meet six tough standards to help high school graduates prepare for college or careers. The White House said schools need to focus on better teacher preparation, improved teaching and tougher student assessments, according to a report of The Associated Press.