166#1h (GMU) GMU - Move Fin Aid to SCHEV. HB30

State Budget

2016 Session

Budget Amendments - HB30 (Floor Approved)

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GMU - Move Fin Aid to SCHEV

Item 166 #1h

Item 166 #1h	First Year - FY2017	Second Year - FY2018
Education
George Mason University	FY2017 $0	FY2018 ($3,064,841)	GF

Language
Page 160, line 14, strike "$31,436,301" and insert "$28,371,460".

Explanation

(This amendment and other companion amendments move the proposed new financial aid funding for fiscal year 2018 into the State Council of Education for Virginia. The distribution of these financial aids fund will be recommended prior to the 2018 Session by the Joint Subcommittee on the Future Competitiveness of Virginia Higher Education as part of its financial aid reform review.)

Item 166

Item 166	First Year - FY2017	Second Year - FY2018
Higher Education Student Financial Assistance (10800)	$31,436,301	$31,436,301
Scholarships (10810)	FY2017 $26,595,111	FY2018 $26,595,111
Fellowships (10820)	FY2017 $4,841,190	FY2018 $4,841,190
Fund Sources:
General	FY2017 $21,740,301	FY2018 $21,740,301
Higher Education Operating	FY2017 $9,696,000	FY2018 $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.

State Budget

2016 Session

Budget Amendments - HB30 (Floor Approved)

GMU - Move Fin Aid to SCHEV

Item 166 #1h

Item 166 #1h

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Item 166