The cuts amount to 5 percent below the legislative appropriations.
Exempted are funds for the Ayers settlement, Chickasaw Cession fund, student financial aid and board certified teachers's salary supplements.
Barbour said that even with budget cuts, all levels of education are receiving more money than they ever have.
Barbour says that several programs will be exempt from the cuts, including Medicaid and Corrections.
Read Friday's Journal for complete details. The Associated Press contributed to this report.