2019 Session

Budget Bill - HB1700 (Chapter 854)

The College of William and Mary in Virginia

Item 152

Item 152

First Year - FY2019Second Year - FY2020
Higher Education Student Financial Assistance (10800)$40,999,673
Scholarships (10810)FY2019 $26,989,374
FY2020 $27,339,893
Fellowships (10820)FY2019 $14,010,299FY2020 $14,010,299
Fund Sources:  
GeneralFY2019 $4,460,902FY2020 $4,811,421
Higher Education OperatingFY2019 $36,538,771
FY2020 $36,538,771

Authority: Title 23.1, Chapter 28, Code of Virginia.

A. Higher education operating funds appropriated in this program may be allocated for need-based aid to Virginia undergraduate students to enhance the quality and diversity of the student body.

B. The appropriation for the fund source Higher Education Operating in this Item shall be considered sum sufficient appropriation, which is an estimate of the revenue collected to meet student financial aid needs, under the terms of the management agreement between the university and the Commonwealth as set forth in Chapters 933 and 943 of the 2006 Acts of Assembly.

C. Up to 15 percent of the funding in this item may be used to support Virginia Guaranteed Assistance Program eligible students for (1) priority funding who are enrolled in Data Science and Technology, Science and Engineering, Healthcare and Education programs and (2) as a grant for students in innovative internship programs provided that the institutions has at least one private sector partner and the grant is matched equally by the partner with non-state funding and / or the institution from private funds.