The specific schools have yet to be chosen, the Detroit Free Press reported Saturday.
Part of the funding would also go to help pre-schoolers get ready for their first day of kindergarten, the newspaper said.
President of GM North America Mark Reuss said, "This is the beginning of making Detroit again a destination."
Recently, GM said it would auction off the first Chevrolet Volt to come off the assembly line and donate the proceeds to the city's public school system.
Part of the goals targeted by the United Way's education program is to close some of Detroit's failing high schools and rebuild with smaller schools.
"Reducing the size of large urban high schools can enhance academic skills for students, reduce dropout rates and improve discipline," said Michael Casserly, executive director of the Council of the Great City Schools.
GM's contribution targets schools where less than 60 percent of the students graduate. The schools chosen to receive the funds are to follow the United Way program and set a goal of reaching a graduation rate of 80 percent.
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