148#1h (CNU) CNU Redirect Fin Aid. HB5002 - Committee Approved

State Budget

2014 Special Session I

Budget Amendments - HB5002 (Committee Approved)

Bill Order » Item 148 #1h

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CNU Redirect Fin Aid

Item 148 #1h

Item 148 #1h	First Year - FY2015	Second Year - FY2016
Education: Higher Education
Christopher Newport University	FY2015 ($100,000)	FY2016 ($100,000)	GF

Language
Page 146, line 39, strike "$5,816,107" and insert "$5,716,107".
Page 146, line 39, strike "$5,816,107" and insert "$5,716,107".
Page 146, strike lines 45 through 48.

Explanation
(This amendment redirects the proposed new financial aid funding into operating support at public colleges and universities in order to ensure overall tuition and fee remains affordable for in-state undergraduate students.)

Item 148

Item 148	First Year - FY2015	Second Year - FY2016
Higher Education Student Financial Assistance (10800)	$5,816,107	$5,816,107
Scholarships (10810)	FY2015 $5,812,403	FY2016 $5,812,403
Fellowships (10820)	FY2015 $3,704	FY2016 $3,704
Fund Sources:
General	FY2015 $4,681,107	FY2016 $4,681,107
Higher Education Operating	FY2015 $1,135,000	FY2016 $1,135,000

Authority: Title 23, Chapter 5.3, Code of Virginia.

Out of this appropriation, $100,000 the first year and $100,000 the second year from the general fund is provided to support undergraduate financial assistance and work study programs for low and middle income Virginia students consistent with the objectives of the Higher Education Opportunity Act of 2011.