VSU - VCAN Affordability Pilot Program
Item 238 #2s
Item 238 #2s | First Year - FY2021 | Second Year - FY2022 | |
| Education |
| Virginia State University | FY2021 $0 | FY2022 ($1,099,275) | GF |
Language
Page 234, line 25, strike "$22,248,248" and insert "$21,148,973".
Page 198, after line 40, insert:
"B. 1. Out of this appropriation up to $3,773,490 each year from the general fund is provided for an affordability pilot program to offer financial assistance to Virginia students who are Pell grant eligible, meet university admissions requirements, and live within a 25 mile radius of the university. The program is designed to address regional needs relating to access and completion. Funds shall be used to provide last dollar or reduced tuition and fees to students for up to 150 percent of required credits to complete a certificate or degree. Priority shall be placed on students from Matoaca, Petersburg, and Colonial Heights high schools, and remaining funds may be used for room and board if available. It is the intention that the program may ramp up to 300 students total at any one time by fiscal year 2024. In the first and second year, in the event that financial aid remains available after recruiting new students for fall semester, the remaining financial aid may be used to fund current students who meet the criteria and/or for eligible new students that enroll in the spring semester.
2. As part of the six-year plan process, the university shall submit an annual report of the program that includes number of students served, average financial need of students, total expenditures, average award per student, retention and completion rates, other student outcomes as defined by the university, and planned outcomes for the upcoming year.
3. The University shall submit a detailed budget and implementation plan, including how the institution will disseminate information about the program to area students, the projected size of each cohort, and how the institution will monitor and report on the success of the program. After approval of the plan by the Governor and the Chairs of Senate Finance and Appropriations and the House Appropriations Committee, this funding may be released."
Explanation
(This amendment provides $3.8 million GF each year for a new student affordability pilot program at NSU. The program would provide last dollar tuition and some portion of room and board where applicable to qualifying Pell-eligible students within a 25-mile radius of campus.)