228#1h (VSU) VSU Redirect Fin Aid. HB5002 - Committee Approved

State Budget

2014 Special Session I

Budget Amendments - HB5002 (Committee Approved)

Bill Order » Item 228 #1h

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VSU Redirect Fin Aid

Item 228 #1h

Item 228 #1h	First Year - FY2015	Second Year - FY2016
Education: Higher Education
Virginia State University	FY2015 ($1,061,127)	FY2016 ($1,061,127)	GF

Language
Page 190, line 41, strike "$12,848,933" and insert "$11,787,806".
Page 190, line 41, strike "$13,098,955" and insert "$12,037,828".
Page 190, strike lines 47 through 50.

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 228

Item 228	First Year - FY2015	Second Year - FY2016
Higher Education Student Financial Assistance (10800)	$12,848,933	$13,098,955
Scholarships (10810)	FY2015 $12,552,589	FY2016 $12,802,611
Fellowships (10820)	FY2015 $296,344	FY2016 $296,344
Fund Sources:
General	FY2015 $7,324,361	FY2016 $7,324,361
Higher Education Operating	FY2015 $5,524,572	FY2016 $5,774,594

Authority: Title 23, Chapter 13, Code of Virginia.

Out of this appropriation, $1,061,127 the first year and $1,061,127 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.