Every dollar cut from education is more than a cut to a budget line, as it costs generations their future, with the poorest paying the highest price. A new UNICEF analysis shows that international aid to education is projected to fall by US$3.2 billion by 2026--a 24 per cent drop. If the announced cuts to official development assistance (ODA) become a reality, UNICEF estimates that 6 million more children risk being out of school by end of 2026, 30 per cent of them in humanitarian settings. With reduced support for system strengthening, such as curriculum development, learning assessment, and teacher development, at least 290 million students could experience a decline in the quality of their education almost overnight. This report describes who is hit hardest by these cuts and what actions can be taken to protect education and secure a safe, resilient and peaceful future for children, their families and communities.