156#1h (RBC) RBC Redirect Fin Aid. HB5002 - Committee Approved

State Budget

2014 Special Session I

Budget Amendments - HB5002 (Committee Approved)

Bill Order » Item 156 #1h

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RBC Redirect Fin Aid

Item 156 #1h

Item 156 #1h	First Year - FY2015	Second Year - FY2016
Education: Higher Education
Richard Bland College	FY2015 ($100,000)	FY2016 ($100,000)	GF

Language
Page 150, line 23, strike "$554,107" and insert "$454,107".
Page 150, line 23, strike "$554,107" and insert "$454,107".
Page 150, strike lines 27 through 30.

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 156

Item 156	First Year - FY2015	Second Year - FY2016
Higher Education Student Financial Assistance (10800)	$554,107	$554,107
Scholarships (10810)	FY2015 $554,107	FY2016 $554,107
Fund Sources:
General	FY2015 $554,107	FY2016 $554,107

Authority: Title 23, Chapter 5, 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.