Senate Bill 856 establishes a climate change scholarship program administered by the Higher Educational Aids Board, aimed at supporting students enrolled in higher education institutions who are studying fields related to climate change. The program allows eligible students to receive scholarships of up to $5,000 per academic year. The bill specifies that scholarships will be awarded based on merit and financial need, with half of the awards allocated to each category. Additionally, students with certain child support obligations may be required to provide a payment agreement to qualify for the scholarship.

The bill creates new statutory sections, specifically 20.235 (1) (dm) and 39.467, to outline the framework and funding for the scholarship program. It defines "institution of higher education" to include various types of colleges and universities within Wisconsin. The funding for the program will come from the appropriation specified in the newly created section 20.235 (1) (dm). Overall, this legislation aims to promote education and careers that address climate change challenges while ensuring equitable access to financial support for students.