2014 Session

Budget Amendments - HB30 (Committee Approved)

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Financial Aid Technical Changes (language only)

Item 4-5.01 #1h

Item 4-5.01 #1h

Special Conditions and Restrictions on Expenditures
Transactions with Individuals

Page 475, strike lines 5 through 13 and insert:
"b) Except as otherwise authorized under § 23-38.53:6, all awards made to undergraduate students from such Items shall be only for domiciled residents of Virginia as defined by § 23-7.4 and such awards shall offset all, or portions of, the costs of tuition and required fees, shall be proportionate to the remaining need of individual students, with students with higher levels of remaining need receiving grants before other students, and no criteria other than the remaining need of the student shall be used to determine the award amount. Because of the low cost of attendance and recognizing that federal grants provide a much higher portion of cost than at other institutions, a modified approach and minimum award amount for the neediest VGAP student should be implemented for community college and Richard Bland College students based on remaining need and the combination of federal and grant state aid. Student financial need shall be determined by a need-analysis system approved by the Council."
Page 475, strike lines 35 through 43.
Page 475, line 44, strike "3)" and insert "c)".
Page 475, strike line 47.

(This amendment updates language regarding student financial assistance, consistent with the recommendations of the State Council of Higher Education for Virginia and House Bill 573.)