The change in Virginia state funding per student is a mixed bag for the 2024-25 school year. While total spending has increased, some divisions will see decreases in funding due to less favorable Local Composite Indices (ability to pay feature in the state funding formula), supplanting of nearly $400 million of federal pandemic aid, and the general erosion of spending power due to inflation. Average state spending per student was $8,099 in the 2023-24 school year and increased to $8,324 in the 2024-25 school year (inflation-adjusted to 2023-24 dollars). That’s an effective increase of $225 per student, on average, in state support.
Source: Source: FOS analysis of FY24 HB6002 and FY25/FY26 HB6001 direct aid distributions. Inflation-adjusted using CPI-U and February 2024 CBO quarterly projections for FY25 and 26.