The move is one of the key policies set out in the administration's first coalition pact, which will be followed by a final coalition agreement in due course.
A "significant" pupil premium for disadvantaged children and young people will also be introduced, using money from outside the existing schools budgets, funded by reductions in spending elsewhere.
On schools, the parties have agreed to allow new providers to supply state education, reform school accountability and make the National Curriculum less prescriptive.
The Child Trust Fund and tax credits for high earners will be reduced. But child poverty campaigners have welcomed the increase in the personal allowance for income tax, which should help lower and middle-income earners.
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