187#1h (UMW) UMW Redirect Fin Aid. HB5002 - Floor Approved

State Budget

2014 Special Session I

Budget Amendments - HB5002 (Floor Approved)

Bill Order » Item 187 #1h

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UMW Redirect Fin Aid

Item 187 #1h

Item 187 #1h	First Year - FY2015	Second Year - FY2016
Education: Higher Education
University of Mary Washington	FY2015 ($600,000)	FY2016 ($600,000)	GF

Language
Page 166, line 4, strike "$3,177,885" and insert "$2,577,885".
Page 166, line 4, strike "$3,177,885" and insert "$2,577,885".
Page 166, strike lines 10 through 13.

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 187

Item 187	First Year - FY2015	Second Year - FY2016
Higher Education Student Financial Assistance (10800)	$3,177,885	$3,177,885
Scholarships (10810)	FY2015 $3,171,686	FY2016 $3,171,686
Fellowships (10820)	FY2015 $6,199	FY2016 $6,199
Fund Sources:
General	FY2015 $2,427,885	FY2016 $2,427,885
Higher Education Operating	FY2015 $750,000	FY2016 $750,000

Authority: Title 23, Chapter 9.2, Code of Virginia.

Out of this appropriation, $600,000 the first year and $600,000 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 objective of the Higher Education Opportunity Act of 2011.