Purpose of the Bill

The purpose of this bill is to provide funding for College Possible, an organization that helps low-income students gain admission to and graduate from college. The bill seeks to support programs that offer coaching and support to these students both in high school and in college.

Main Provisions

• Funding Allocation: The bill allocates $600,000 for fiscal year 2026 and another $600,000 for fiscal year 2027 from Minnesota's general fund. These funds are designated for College Possible to assist with its educational programs.
• Scope of Usage: Funds must exclusively support Minnesota residents who are attending colleges or universities within the state.
• Reporting Requirement: College Possible is required to submit an annual report by February 1 each year. This report should cover how the funds were used, including program expansions, the number of coaches hired, partnerships with high schools, and community service conducted by students.

Significant Changes to Existing Law

There are no direct changes to existing laws; however, this bill introduces a new, structured funding mechanism aimed solely at supporting low-income students through College Possible, with specific reporting procedures to ensure accountability and transparency.

Relevant Terms

• College Possible
• Low-income students
• College admission
• College graduation
• Coaching and support
• Higher education
• Fiscal year 2026 and 2027
• General fund
• Minnesota residents
• Annual report