Item 505.10 | First Year - FY2003 | Second Year - FY2004 |
|---|
|
|
| Higher Education Student Financial Assistance (10800) | $0 | $4,500,000 |
| Scholarships (10810) | FY2003 $0 | FY2004 $4,500,000 |
| Fund Sources: | | |
| General | FY2003 $0 | FY2004 $4,500,000 |
Authority: Discretionary Inclusion.
Out of this appropriation, $4,500,000 is provided from the general fund in the second year for need-based financial aid for Virginia resident undergraduate students. The Director, Department of Planning and Budget, shall distribute these funds to higher education institutions consistent with the level of student need, as calculated by the State Council of Higher Education for Virginia. The Director, Department of Planning and Budget, shall submit a report by July 15, 2003, to the Chairmen of the House Appropriations and Senate Finance Committees setting out the distribution of these funds.