171#1h (LU) Longwood Redirect Fin Aid. HB5002 - Committee Approved

State Budget

2014 Special Session I

Budget Amendments - HB5002 (Committee Approved)

Bill Order » Item 171 #1h

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Longwood Redirect Fin Aid

Item 171 #1h

Item 171 #1h	First Year - FY2015	Second Year - FY2016
Education: Higher Education
Longwood University	FY2015 ($365,000)	FY2016 ($365,000)	GF

Language
Page 157, line 37, strike "$4,547,842" and insert "$4,182,842".
Page 157, line 37, strike "$4,547,842" and insert "$4,182,842".
Page 157, strike lines 42 through 45.

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 171

Item 171	First Year - FY2015	Second Year - FY2016
Higher Education Student Financial Assistance (10800)	$4,547,842	$4,547,842
Scholarships (10810)	FY2015 $4,547,143	FY2016 $4,547,143
Fellowships (10820)	FY2015 $699	FY2016 $699
Fund Sources:
General	FY2015 $4,547,842	FY2016 $4,547,842

Authority: Title 23, Chapter 15, Code of Virginia.

A. Out of this appropriation, $365,000 the first year and $365,000 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.