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2017 Session

Budget Amendments - SB900 (Floor Approved)

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SCHEV - Standardize Financial Aid Award Letters/Website Options (language only)

Item 144 #1s

Item 144 #1s

Education
State Council of Higher Education for Virginia

Language

Page 166, after line 7, insert:

"K.  1.  The State Council of Higher Education for Virginia shall develop a standard template for financial aid award letters for institutions of higher education receiving state financial aid or whose students receive tuition assistance grants by November 1, 2017.  The Council shall work with representatives of the higher education institutions and with the staff of the Senate Finance and House Appropriations Committees in the development of the template.  The institutions shall be required to use this template for financial aid award letters beginning in the 2018-19 academic year.  

2.  The State Council shall also study options to create an interactive website to compare multiple financial aid award letters and report the findings to the Senate Finance and House Appropriations Committees by November 1, 2017."



Explanation

(This language amendment requires the State Council of Higher Education for Virginia (SCHEV) to develop a standard template for financial aid award letters for institutions of higher education receiving state financial aid or whose students receive tuition assistance grants. The institutions shall be required to use this template beginning in the 2018-19 academic year. SCHEV will also report on options to create an interactive website to compare financial aid offers.)