Arkansas

This article analyzes changes in educational funding in Arkansas for fiscal year 2024. The state legislature passed the LEARNS Act, which raised the minimum starting salary for teachers from $34,900 to $50,000 for the 2023–2024 school year. Additionally, teachers already earning $50,000 or more received a $2,000 raise. The cost of implementing the Act is estimated at $297.5 million for the 2023–2024 school year and $343.3 million for 2024–2025. The legislature also increased per-pupil foundation funding by $153 and raised most categorical funding by approximately 2%. The LEARNS Act introduced a voucher system that allows any student eligible for public school to receive funding to attend private school or be homeschooled. This voucher system will be fully implemented over three years, eventually making all students eligible for the program. Arkansas, which uses a productivity funding model for higher education, reduced its higher education budget by $2.4 million for 2023–2024. Currently, the state allocates about 41% of its budget to P-12 education and 11% to higher education.