175#1h (NSU) NSU Redirect Fin Aid. HB5002 - Committee Approved

State Budget

2014 Special Session I

Budget Amendments - HB5002 (Committee Approved)

Bill Order » Item 175 #1h

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NSU Redirect Fin Aid

Item 175 #1h

Item 175 #1h	First Year - FY2015	Second Year - FY2016
Education: Higher Education
Norfolk State University	FY2015 ($195,000)	FY2016 ($195,000)	GF

Language
Page 159, line 43, strike "$13,314,664" and insert "$13,119,664".
Page 159, line 43, strike "$13,314,664" and insert "$13,119,664".
Page 159, strike lines 49 through 52.

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 175

Item 175	First Year - FY2015	Second Year - FY2016
Higher Education Student Financial Assistance (10800)	$13,314,664	$13,314,664
Scholarships (10810)	FY2015 $13,249,319	FY2016 $13,249,319
Fellowships (10820)	FY2015 $65,345	FY2016 $65,345
Fund Sources:
General	FY2015 $8,414,664	FY2016 $8,414,664
Higher Education Operating	FY2015 $4,900,000	FY2016 $4,900,000

Authority: Title 23, Chapter 13.1, Code of Virginia.

Out of this appropriation, $195,000 the first year and $195,000 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.