On March 8, 2024, the Federal Communications Commission announced that the E-rate program funding cap for FY2024 will be $4.940 billion. This is a 3.6% inflation-adjusted increase from FY2023 cap of $4.768 billion. The FCC began adjusting the funding cap in 2010 to ensure that the E-rate program funding keeps pace with the changing broadband needs for schools and libraries.
The FCC’s Public Notice on FY2024 funding cap can be viewed here.