Published: Oct 23, 2012 2:02 PM EDT

MIAMI (AP) - One of the country's most prestigious education awards has been awarded to the Miami-Dade County Public Schools.
    
Miami-Dade was announced winner of the 2012 Broad Prize for Urban Education on Tuesday in New York at The Museum of Modern Art. The district was praised for raising the graduation rates of minority students as well as the percentage of minority students reaching advanced levels on state exams.
    
The nation's fourth-largest school district will receive $550,000 in college scholarships for students who demonstrate financial need and academic improvement. The three districts chosen as finalists were Palm Beach, Fla., Corona-Norco in Riverside County, Calif., and the Houston public schools.  Each will receive $150,000.
    
The Broad Prize is awarded to schools that reduce the achievement gap and demonstrate the greatest gains in student performance.

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