Item 160 (Not set out) | First Year - FY1997 | Second Year - FY1998 |
|---|---|---|
| Higher Education Student Financial Assistance (10800) | $27,992,590 | $32,146,090 |
| Scholarships (10810) | FY1997 $27,992,590 | FY1998 $32,146,090 |
| Fund Sources: | ||
| General | FY1997 $26,342,250 | FY1998 $30,495,750 |
| Federal Trust | FY1997 $1,650,340 | FY1998 $1,650,340 |
Authority: College Scholarship Assistance Program: Title 23, Chapter 4.4, Code of Virginia; Tuition Assistance Grant Program: Title 23, Chapter 4.1, Code of Virginia.
A. Appropriations in this Item 160 are subject to the conditions specified in Paragraphs B, C, D, E, and F hereof.
B. Those private institutions which participate in the programs provided by the appropriations in this Item shall, upon request by the State Council of Higher Education, submit financial and other information which the Council deems appropriate.
C.1. Out of the amounts for Scholarships the following sums shall be made available for:
a.1) College Scholarship Assistance Program, $4,413,750 from the general fund and $1,650,340 in federal funds the first year and $4,413,750 from the general fund and $1,650,340 in federal funds the second year.
2) Any general fund amounts designated for the College Scholarship Assistance Program not required for federal maintenance of effort dollars shall be used for Virginia's discretionary financial aid program. Allocations of the discretionary financial aid funds shall be based on the need-based model approved by the State Council of Higher Education.
b. Tuition Assistance Grant Program, $21,568,000 the first year and $25,842,000 the second year from the general fund designated for undergraduate and graduate students.
c. Virginia Scholars Program, $235,500 the first year and $115,000 the second year from the general fund.
d. Virginia Space Grant Consortium Scholarships, $125,000 the first year and $125,000 the second year from the general fund.
2. No amount, or part of an amount, listed for any program specified in Paragraph C. 1. above shall be expended for any other program in this appropriation except for the amounts identified in C.1.a.2.
D. College Scholarship Assistance Program Payments to students out of this appropriation shall not exceed $5,000 each year per undergraduate and graduate student.
E. Tuition Assistance Grant Program
1.a. Payments to students out of this appropriation shall not exceed $1,750 the first year and $2,000 the second year, to qualified undergraduate, graduate, and medical students attending not-for-profit, independent institutions accredited by the Southern Association of Colleges and Schools, in accordance with §§ 23-38.12 through 23-38.19, Code of Virginia. Effective July 1, 1997, accreditation by the Southern Association of Colleges and Schools shall not be required.
b. Any amounts reappropriated from balances in the Tuition Assistance Grant Program on June 30, 1996, estimated to be $1,000,000, shall be used to provide grants in the amount not to exceed $1,750 per student in the first year.
2. Any appropriations in the Tuition Assistance Grant Program which are unexpended at the close of business on June 30, 1997, and each succeeding year, shall revert to the general fund. However, no part of the amounts appropriated for tuition assistance grants shall revert to the general fund until all qualified students who apply have received grants of $1,750 the first year and $2,000 the second year.
3. Payments out of this appropriation shall be made only under the grant provisions of the program, for all awards made on and after July 1, 1978.
4. Students who have received payment in a previous year will receive preference for payments the following year, provided they continue to satisfy the requirements for eligibility.
5. Students who received loans under either Chapter 4.1 or Chapter 4.4, Code of Virginia, before January 1, 1975, shall be entitled to exercise any of the repayment options available under § 23-38.15 (c) or § 23-38.49 (d), Code of Virginia.
6. The private institutions which participate in this program shall, during the spring semester previous to the commencement of a new academic year, notify their enrolled and newly admitted students about the availability of tuition assistance awards under the program. The institutions shall certify to the Council that such notification has been completed and shall indicate the method by which it was carried out.
7. Institutions participating in this program must submit annually to the Council copies of audited financial statements.
8. Starting with awards for the 1991-92 academic year, to be eligible for a full year award out of this appropriation, a student's application must have been received by a participating independent college or by the State Council of Higher Education by July 31. Applications received after July 31 but no later than September 14 will be held for consideration if funds are available after July 31 awards have been made. Applications for spring semester only awards must be received by December 1 and will be considered only if funds remain available.
9. Students at the Virginia Women's Institute for Leadership at Mary Baldwin College are not eligible for Tuition Assistance Grants.
F. Virginia Scholars Program Payments to students out of this appropriation shall not exceed $3,000 each year, and a maximum of $12,000 to any one recipient for five years of study, in accordance with §§ 23-38.53:1 through 23-38.53:3, Code of Virginia. Starting in 1994-95, each interested institution of higher education in Virginia shall develop a plan for merit-based scholarships such as the Virginia Scholars Program. The Council shall distribute funds for students receiving this aid for the first time in 1994-95 and thereafter to the individual institutions of higher education according to the approved plan of each institution. Students who received grants in 1993-94 will continue to receive the grants until they exhaust their eligibility.