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2022 Session

Budget Amendments - HB30 (Committee Approved)

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SCHEV - Adjust Proposed Financial Aid for Revised Estimates

Item 142 #5h

Item 142 #5h

First Year - FY2023 Second Year - FY2024
Higher Education
State Council of Higher Education for Virginia FY2023 ($15,400,000) FY2024 ($16,200,000) GF

Language
Page 180, line 36, strike "$136,015,951" and insert "$120,615,951".
Page 180, line 36, strike "$146,328,512" and insert "$130,128,512".

Page 184, strike lines 53 through 56 and insert:

"K. Out of this appropriation, $2,600,000 each year from the general fund is designated to provide need-based financial assistance for students eligible under § 23.1-505.1, Code of Virginia.  Awards for students at four-year institutions shall be calculated using approximately the average award for in-state undergraduate students eligible under Virginia Guaranteed Assistance Program, § 23.1-636 et seq, Code of Virginia at the institution or the average award for all four-year institutions whichever is lower. Awards for students at two-year institutions shall be calculated using approximately the average award for in-state undergraduate students eligible under Virginia Guaranteed Assistance Program, § 23.1-636 et seq, Code of Virginia at the institution or the average award for all two-year institutions whichever is lower."



Explanation

(This amendment provides funding for need-based financial assistance for students eligible under § 23.1-505.1, Code of Virginia.)