The bill S.F. No. 880 introduced in the Minnesota Senate proposes the creation of a new educational finance program called the "Funding for Success Incentive Aid Program". This program is designed to reward schools financially based on certain performance metrics.

Here’s the essence of the program:

1. Program Establishment: The bill establishes a program to provide financial aid to schools that show good performance based on two main success metrics:

   • Graduation Rate: Schools receive a financial multiplier if their graduation rate exceeds 90%. Each percentage point above 90% contributes to this multiplier.
   • Recent Graduate Success: Schools also receive a multiplier for graduates who enroll in public colleges or universities without needing remedial courses, with the same base percentage and multiplier system as the graduation rate.

2. Calculation of Aid:

   • The incentive aid each school receives is calculated by combining the multipliers from the graduation rate and recent graduate success, multiplying by the school’s total enrollment, and adjusting based on the total available funding.

3. Eligibility: Schools with neither a graduation rate nor a recent graduate success rate above the 90% threshold will not qualify for this incentive aid.

4. Funding: Specific sums are appropriated from the state’s general fund to support this program starting from fiscal year 2026.

In summary, this legislative bill aims to incentivize schools to achieve higher educational outcomes by providing financial rewards for high graduation rates and successful placement of students into higher education without the need for remedial courses.