1999 Session

Budget Amendments - SB800 (Conference Report)

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JLARC Financial Aid Study (language only)

Item 16 #4c

Item 16 #4c

Legislative Department
Joint Legislative Audit and Review Commission

Page 14, after line 47, insert:
"J.  The Joint Legislative Audit and Review Commission shall conduct a review of need-based financial aid programs of the Commonwealth of Virginia.  The study shall (i) review the policies and implementation strategies for financial aid programs in other states; (ii) present alternative policies and administrative structures for carrying out financial aid programs in Virginia; and (iii) provide alternatives for a simplified, equitable financial aid program for students and parents.   The objective of the study is the development of a financial aid system that is both fair to students and complementary to the Commonwealth's tuition policy.  In addition, the Commission shall review merit scholarship and incentive scholarship plans, examine the purposes and measurable objectives of such scholarships and make recommendations regarding their application in Virginia. The Commission shall make its recommendations to the Joint Subcommittee on Higher Education Funding Policies, as established in Item 1 of this act, by December 15, 1999."

(This amendment directs JLARC to review the Commonwealth’s need-based financial aid programs and the administrative procedures followed by the colleges and universities in the awarding of aid grants. This study was recommended by the Joint Subcommittee on Higher Education Funding Policies. Currently, each institution establishes its own award schedule, which may result in disparate treatment of students across institutions. The amendment also instructs the Commission to review merit and incentive scholarship plans.)