Transfer Grant Incentive

Item 142.10 #1c

Language
Page 149, after line 10, insert:
A. Out of this appropriation,  $600,000 the second year from the general fund is designated for students eligible for the first time under §§ 23-38.10:9 through 23-38.10:13, Code of Virginia.  The State Council of Higher Education for Virginia shall transfer these funds to Norfolk State University, Old Dominion University, Radford University, the University of Virginia at Wise, Virginia Commonwealth University and Virginia State University so that each institution can provide for grants of $1,000 from these funds for these students.
B. Each institution shall award grants from these funds for one year and students shall not receive subsequent awards until they have satisfied the requirements to move to the next class level. Each recipient may receive a maximum of one year of support per class level for a maximum total of two years of support.
C. Any balances remaining from the appropriation identified in this item in paragraph A.1. shall not revert to the general fund at the end of the fiscal year, but shall be brought forward and made available to the State Council of Higher Education for Virginia for the purposes specified in paragraph A. of this item in the subsequent fiscal year.
D. It is the intent of the General Assembly that the institution shift by a total of 600 the number of students it enrolls from first time freshman to transfers eligible under §§ 23-38.10:9 through 23-38.10:13, Code of Virginia.  Institutional goals under this fund are estimated as follows:
Institution Transfer Target
Norfolk State University 80
Old Dominion University 140
Radford University 140
University of Virginia at Wise 20
Virginia Commonwealth University 140
Virginia State University  80
E.  The State Council of Higher Education for Virginia may allocate these funds among the institutions in Paragraph D as necessary to meet the actual number of transfers each institution generates for students eligible for the first time under §§ 23-38.10:9 through 23-38.10:13, Code of Virginia.
F. Each institution shall report its progress toward the targets in Paragraph D to the Chairmen of the House Appropriations and Senate Finance Committees by May 1, 2016 and each year thereafter.  The report shall include a detailed accounting of the use of the funds provided and a plan for achieving the goals identified in this item."

Explanation
(This amendment provides a new financial aid allocation to increase the number of transfer grant eligible students.)