Cola For Education For Fiscal Year 2024-25. For 2024‑25, the administration estimates the statutory cola rate is 0.76 percent. In 2023‑24, the available funding could cover a cost‑of‑living adjustment (cola) of up to 8.38 percent, which is slightly below our estimate of the statutory rate (8.73 percent).

Here’s a detailed breakdown of this. In 2023‑24, the available funding could cover a cost‑of‑living adjustment (cola) of up to 8.38 percent, which is slightly below our estimate of the statutory rate (8.73 percent).