Purpose of the Bill

The bill aims to make changes concerning a specific scholarship program and the distribution of its funds within Minnesota's higher education system. The focus is on improving management and dispensing of educational funds for students in need.

Main Provisions

• Elimination of North Star Promise Scholarship: The bill proposes to eliminate the North Star Promise scholarship program. This includes repealing the statute governing the program.
• Reallocation of Funds: Any remaining funds from the North Star Promise special revenue fund will be redirected to the state grant program.
• Enhanced Reporting Requirements: The commissioner of the Office of Higher Education will be required to provide an annual report on all student aid programs. This report will include data on funding details, demographic information, and outcomes like retention and completion rates.
• Data Disaggregation: Reports must break down data by various factors such as race, gender, income, and other relevant characteristics to better evaluate the effectiveness and reach of financial aid programs.

Significant Changes to Existing Law

• The bill amends current statutes to cease the operation of the North Star Promise scholarship program and reassign its financial assets to an existing state grant program.
• Introduces comprehensive reporting obligations for financial aid programs, ensuring a detailed analysis of their administration and impact.

Relevant Terms

• North Star Promise scholarship
• State grant program
• Higher education funding
• Student aid reporting
• Educational outcomes
• Demographic data analysis