This article is an exploratory analysis of nearly 40 years of trends in education funding to explore the current state of funding for Indian elementary and secondary (K-12) education and whether it is sufficient. A description of the current funding system for K-12 Indian education, four programs undergirding the analysis, and relevant literature is described. The tools and databases used to derive the findings and examine the issues involved with conducting a per-pupil analysis of American Indian and Alaska Native K-12 education programs are provided. This is followed by an application of these principles to conduct both a per-pupil and panel regression analysis of actual Department of Education (ED) expenditures on Title VI-A Grants to local educational agencies (LEAs). The article concludes with a discussion of the results and suggestions for further research.