Obama says he will push for education overhaul

President Barack Obama addresses the Export-Import Bank's Annual Conference in Washington March 11, 2010.

WASHINGTON (Reuters) - President Barack Obama, already battling for healthcare reform, jobs and financial regulation, said on Saturday he was also about to push forward on a major overhaul of U.S. education.

Obama said he would send a blueprint to Congress on Monday to update the country's elementary and secondary schools, in an effort to boost standards and redo the "No Child Left Behind" law of his predecessor George W. Bush, which has lapsed.

Obama has delayed a trip to Asia to rally support for a final drive for healthcare reform, and is also urging Democratic lawmakers to advance a radical shake-up of the county's financial regulation to make the economy safer.

Acknowledging in his weekly address the country faced many challenges, Obama said improving education was vital to ensuring wider national success.

"As a nation, we are engaged in many important endeavors: improving the economy, reforming the health care system, encouraging innovation in energy and other growth industries of the 21st century," he said.

"But our success in these efforts -- and our success in the future as a people -- will ultimately depend on what happens long before," he said.

U.S. students have slipped in international tables of accomplishment, particularly in math and science.

Policymakers worry this will dent the ability of U.S. businesses to compete for the industries of the future, damaging job creation and growth.

"Not only does that risk our leadership as a nation, it consigns millions of Americans to a lesser future," he said.

Obama has previously outlined a new vision for education in his 2010 budget, where he announced adding $3 billion to federal allotments for education, while providing an additional $1 billion once "No Child Left Behind" is reauthorized.

The new guidelines will reward top schools, encourage under-performing institutions to do better and provide more support for teachers.

"Through this plan we are setting an ambitious goal: all students should graduate from high school prepared for college and a career -- no matter who you are or where you come from," he said. "This effort is essential for our children and for our country."

(Reporting by Alister Bull, editing by Todd Eastham)