Item 160 | First Year - FY2001 | Second Year - FY2002 |
|---|---|---|
| Higher Education Student Financial Assistance (10800) | $45,708,935 | $46,081,988 |
| Scholarships (10810) | FY2001 $45,708,935 | FY2002 $46,081,988 |
| Fund Sources: | ||
| General | FY2001 $45,158,935 | FY2002 $45,531,988 |
| Federal Trust | FY2001 $550,000 | FY2002 $550,000 |
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 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 $550,000 in federal funds the first year and $4,413,750 from the general fund and $550,000 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, $40,575,185 the first year and $40,948,238 the second year from the general fund is designated for undergraduate and graduate students.
c. Virginia Space Grant Consortium Scholarships, $170,000 the first year and $170,000 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 a2).
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. Payments to students out of this appropriation shall not exceed $2,700 the first year and $2,700 the second year, to qualified undergraduate, graduate, and medical students attending not-for-profit, independent institutions in accordance with §§ 23-38.12 through 23-38.19, Code of Virginia.
2. Any appropriations in the Tuition Assistance Grant Program which are unexpended at the close of business on June 30, 2000, and June 30, 2001, shall revert to the State Council of Higher Education for inclusion in pro rata distributions to the need-based undergraduate financial aid programs of the public institutions of higher education. However, no part of the amounts appropriated for tuition assistance grants shall revert to the State Council until all qualified students who apply have received grants of $2,700 the first year and $2,700 the second year.
3. 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.
4. 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 information provided to students and their parents must include information about the eligibility requirements, the application procedures, and the fact that the amount of the award is an estimate and is not guaranteed. The number of students applying for participation and the funds appropriated for the program determine the amount of the award. Conditions for reduction of award amount and award eligibility are described in this Item and in the regulations issued by the State Council of Higher Education. The institutions shall certify to the Council that such notification has been completed and shall indicate the method by which it was carried out.
5. Institutions participating in this program must submit annually to the Council copies of audited financial statements.
6. 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.
7. Students at the Virginia Women's Institute for Leadership at Mary Baldwin College are not eligible for Tuition Assistance Grants.
8. No limitations shall be placed on the award of Tuition Assistance Grants other than those set forth herein or in the Code of Virginia.