Florida Education Finance Program is the program that replaced MFP in 1973. It’s still being used. The program was designed to ensure more equitable funding for schools by considering other factors, such as regional costs differences, economic indicators, and educational standards. It also removed the fixed formulas that were used for MFP, and relied instead on an allocation system based per student to provide additional resources for students who are exceptional or living in poverty.
While both programs sought financial aid to improve education in Florida, the FEFP provided several improvements compared with its predecessor, including increased flexibility, improved transparency, equity, better oversight, and higher levels level of accountability.