S.F. No. 267 Summary

• Increases maximum annual teacher shortage loan repayment awards from $1,000 to $2,000 for applicants meeting one eligibility category, and establishes $4,000 maximum for applicants meeting two or more categories.

• Makes permanent the Aspiring Minnesota Teachers of Color Scholarship pilot program and increases total lifetime scholarship cap from $25,000 to $30,000 per eligible applicant.

• Expands scholarship program eligibility to include students completing associate's degrees in early childhood education, education, or special education at eligible institutions.

• Requires reserving a percentage of teacher shortage loan repayment funds for teachers of color and American Indian teachers equal to the aggregate percentage of K-12 students of color and American Indian students in the state.

• Appropriates $18,500,000 annually (fiscal years 2024-2025) to the scholarship program account, $2,500,000 annually for underrepresented student teacher grants, and $8,250,000 annually for the teacher shortage loan repayment program, with base appropriations continuing in fiscal year 2026 and beyond.