SF 4668 Summary

• Establishes a promise equalization scholarship program for students receiving state grant awards and enrolled at Minnesota private nonprofit postsecondary institutions.

• Scholarship award amounts determined by the commissioner cannot exceed 33 percent of the student's state grant award under existing law.

• Appropriates $18,000,000 in fiscal year 2025, with future appropriations adjusted annually by the percentage increase in highest tuition and fees at Minnesota public postsecondary institutions.

• Scholarships begin in the 2024-2025 academic year, with the commissioner administering the program and establishing necessary guidelines.

• Requires annual reports to legislative committees by February 15 detailing scholarship awards, recipient demographics, and student outcome data by institution.