MIAMI (CBSMiami/AP) — Two South Florida school districts have been named among five finalists for the U.S. Department of Education’s new Race to the Top competition.

Miami-Dade, Broward, Charlotte, Manatee, and Seminole county schools are vying for a slice of close to $400 million to help close the achievement gap and prepare students for college and a career.

The Obama administration has already awarded more than $4 billion in Race to the Top grants to 18 states and the District of Columbia. The Education Department will now focus on granting money to individual districts.

The department is concentrating on districts where at least 40 percent of students come from low-income families.

Fifteen to 25 districts are expected to receive four-year grants ranging from $5 million to $40 million. Sixty-one finalists have been named.

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