1998 Session

Budget Amendments - HB30 (Conference Report)

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Financial Aid Technical (language only)

Item 4-5.01 #1c

Item 4-5.01 #1c

Special Conditions and Restrictions on Expenditures
3: Miscellaneous & Part 4: General Provisions)

Page 395, line 22, strike "the determination of financial aid" and insert "determining the cost of education and student financial need".
Page 395, line 24, after "only" insert ", and such awards shall offset all, or portions of, the costs of tuition and required fees, and, in the case of students qualifying under b.2.c)1), the cost of books".
Page 396, strike line 19.
Page 396, line 20, strike "sums as approved for that purpose by the Council."

(This amendment clarifies the requirements for plans submitted by the institutions of higher education regarding undergraduate financial aid, and clarifies that state funds for need-based financial aid are to be applied against the costs of tuition and required fees, and, for students qualifying under the Virginia Guaranteed Assistance Program, the cost of books. Many needy students also receive federal Pell grants, and the amendment clarifies that state financial aid is to be applied only to tuition and fees, while federal Pell grants could be applied for other "costs of education," such as travel. In some cases, the combination of state and federal grants exceeds tuition and required fees and books. The amendment also removes extraneous language that no longer applies to graduate student financial aid.)