167#1h (JMU) JMU Redirect Fin Aid. HB5002 - Committee Proposed

State Budget

2014 Special Session I

Budget Amendments - HB5002 (Committee Proposed)

Bill Order » Item 167 #1h

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JMU Redirect Fin Aid

Item 167 #1h

Item 167 #1h	First Year - FY2015	Second Year - FY2016
Education: Higher Education
James Madison University	FY2015 ($100,000)	FY2016 ($100,000)	GF

Language
Page 156, line 11, strike "$12,632,493" and insert "$12,532,493".
Page 156, line 11, strike "$12,632,493" and insert "$12,532,493".
Page 156, strike lines 17 through 20.

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 167

Item 167	First Year - FY2015	Second Year - FY2016
Higher Education Student Financial Assistance (10800)	$12,632,493	$12,632,493
Scholarships (10810)	FY2015 $12,090,623	FY2016 $12,090,623
Fellowships (10820)	FY2015 $541,870	FY2016 $541,870
Fund Sources:
General	FY2015 $8,060,958	FY2016 $8,060,958
Higher Education Operating	FY2015 $4,571,535	FY2016 $4,571,535

Authority: Title 23, Chapter 12.1, 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.