To conclude Hispanic Heritage Month on Oct. 15, President Barack Obama announced more than $335 million will be invested for Latino students across the country.

Formally announcing the investment during a Hispanic Heritage Month reception in the White House on Thursday afternoon, Obama acknowledged the U.S. high school graduation rate is at an all-time high, largely due to the "dramatic gains" made by Latino students. Obama said the Latino high school dropout rate fell by more than 60 percent since the early 1990s, while the rate of Latino children entering preschool increased by approximately 50 percent. In higher education, the percentage of Latinos with a bachelor's degree nearly doubled.

"[T]his is truly an American story," said Obama. "It's the kind of progress that we need to celebrate -- the story of hardworking people, strong advocacy, coming together, lifting up not only the fortunes of a people but, ultimately, the entire country's fortunes. It's bending the arc of history to be fairer and more just."

Despite the positive numbers provided by the Latino community, the president said there is still work to accomplish as the Latino high school and college graduation rates still lags compared to other students.

To further improve Latinos' education experience, at all levels, he announced more than 150 private and public sector communities invested $335 million. The investments was due in part of the White House Initiative on Educational Excellence for Hispanics, which was created last year and led by the U.S. Department of Education and Alejandra Ceja, who served as executive director. The $335 million will be used to build on or improve local, state and federal high-quality education investments, "from cradle-to-career" as the White House noted.

"[T]hat's what this is all about -- everybody doing their part to make sure the next generation does even better than we do. That's how we've always made this country great -- not by building walls, but by tearing down barriers to opportunity," said Obama, which garnered applause from attendees. "Not by trying to divide us, but by trying to build community. Not by telling people to go back where they came from because this would be a really empty country if that's what happened but by making sure everybody has got a 'rightful place' at the table."

Investments included $20 million from the Boys & Girls Club of America, $22.5 million from the Advanced Via Individual Determination Center, $4.5 million from Toyota and up to $50 million from the I Have a Dream Foundation.

To view the full list of public and private commitments, click here.

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