Indiana spent roughly $439 million on its voucher program for the 2023-24 school year as enrollment in private schools hit a record high, a surge driven in large part by students from wealthy families.

The figure represents a $127 million increase from the $311 million the state spent on its voucher program last year, according to the Choice Scholarship Program annual report released Friday.

The number of participating students in 2023-24 increased by approximately 32% from 2022-23.

Lawmakers rewrote the rules for the voucher program during the legislative session prior to this academic school year.