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2018 Session

Budget Amendments - HB30 (Member Request)

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Chief Patron: Bulova
Co-Patron(s): Landes
Alternative Financial Aid (language only)

Item 141 #6h

Item 141 #6h

Education
State Council of Higher Education for Virginia

Language

Page 154, after line 11, insert:

"K. The State Council of Higher Education for Virginia (the Council), in consultation with public institutions of higher education in the Commonwealth that the Council deems appropriate, shall establish a work group for the purpose of conducting a comprehensive evaluation of the effectiveness of income share agreements and income repayment plans as a form of financial aid for students at public institutions of higher education in the Commonwealth.  In conducting such evaluations, the work group shall (i) identify income share agreements and income repayment plans used in other states and evaluate their effectiveness; (ii) evaluate and weigh the potential benefits and detriments or risks of implementing income share agreements and income repayment plans; (iii) evaluate the relationship between income share agreements and income repayment plans and other forms of financial aid; and (iv) identify and recommend for implementation best practices for establishing income share agreements and income repayment plans at public institutions of higher education in the Commonwealth.  The Council shall submit a report of the work group's activities and any of its findings or recommendations to the Chairmen of the House Appropriations Committee, the House Education Committee, the Senate Finance Committee and the Senate Education and Health Committee no later than November 1, 2018."



Explanation

(This amendment is self-explanatory.)