163#1s (GMU) GMU - Increase Need-Based Aid. SB800 - Committee Approved

State Budget

2015 Session

Budget Amendments - SB800 (Committee Approved)

Bill Order » Item 163 #1s

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GMU - Increase Need-Based Aid

Item 163 #1s

Item 163 #1s	First Year - FY2015	Second Year - FY2016
Education: Higher Education
George Mason University	FY2015 $0	FY2016 $950,000	GF

Language
Page 159, line 45, strike "$27,421,460" and insert "$28,371,460".

Explanation
(This amendment provides $950,000 GF in the second year for additional undergraduate need-based aid.)

Item 163

Item 163	First Year - FY2015	Second Year - FY2016
Higher Education Student Financial Assistance (10800)	$26,818,229	~~$27,118,229~~ $27,421,460
Scholarships (10810)	FY2015 $22,077,039	FY2016 ~~$22,277,039~~ $22,580,270
Fellowships (10820)	FY2015 $4,741,190	FY2016 $4,841,190
Fund Sources:
General	FY2015 $17,422,229	FY2016 ~~$17,422,229~~ $17,725,460
Higher Education Operating	FY2015 $9,396,000	FY2016 $9,696,000

Authority: Title 23, Chapter 9.1, Code of Virginia.

Notwithstanding the provisions of § 4-5.01.5.b) of this Act, George Mason University is hereby authorized to transfer the balance of its discontinued student loan funds to an endowment fund established by the University to be used for undergraduate and graduate students in the Higher Education Student Financial Assistance Program.