The National Education Commission on Time and Learning (NECT&L) is an independent advisory body authorized by Congress by Public Law 102-62, the Education Council Act of 1991. The commission is undertaking a comprehensive review of the relationship between time and learning in elementary-secondary education. This paper summarizes the proceedings of a hearing which studied the cost implications of time use. The following five themes emerged from the discussion: (1) American education in an international context; (2) the reinvention of schools and how to link them to communities; (3) time management; (4) financial implications of extending the school day or year; and (5) year-round schooling as a model. One figure and a list of participants are included. (LMI)