2001 Session

Budget Amendments - HB1600 (Member Request)

View Budget Item
View Budget Item amendments

Chief Patron: Councill
Va Administrator Scholarship Loan Program

Item 137 #3h

Item 137 #3h

First Year - FY2001 Second Year - FY2002
Education: Elementary and Secondary
Education, Central Office Operations, Department of FY2001 $0 FY2002 $300,000 GF

Page 123, line 46, strike "$2,020,759" and insert "$2,320,759".
Page 125, after line 26, insert:
"G. This appropriation includes $300,000 the second year from the general fund for the Virginia School Administrator Scholarship Loan Program.  These scholarships shall be for masters or doctorate students in school administration nominated by their college.  Scholarship recipients may fulfill the obligation by accepting a school administrator position in a Virginia public school, and serving as an administrator for a period of at least four years.  Scholarship amounts are based on $6,000 per year for full-time students and shall be prorated for part-time students based on the number of credit hours.  The Board of Education is authorized to recover total funds awarded as scholarships or the appropriate proportion thereof in the event that scholarship recipients fail to honor the stipulated obligation.  Any funds collected by the board on behalf of this program shall revert to the general fund on June 30 each year.  Such reversion shall be the net of any administrative or legal fees associated with the collection of these funds."

(This amendment would establish a new Scholarship Loan Program for school administrators. The amount provided would fund at least 100 scholarships of $3,000 each. The program is modeled after the Virginia Teaching Scholarship Loan Program.)