2023 Special Session I

Budget Bill - HB6001 (Enrolled)

George Mason University

Item 164

Item 164

First Year - FY2023Second Year - FY2024
Higher Education Student Financial Assistance (10800)$69,715,494$99,206,144
Scholarships (10810)FY2023 $63,452,328FY2024 $92,681,328
Fellowships (10820)FY2023 $6,263,166FY2024 $6,524,816
Fund Sources:  
GeneralFY2023 $42,419,494FY2024 $65,510,144
Higher Education OperatingFY2023 $27,296,000FY2024 $33,696,000

Authority: Title 23.1, Chapter 15, Code of Virginia.

A. Notwithstanding the provisions of § 4-5.01.5.b) of this Act, George Mason University is hereby authorized to transfer the balance of its discontinued student loan funds to an endowment fund established by the University to be used for undergraduate and graduate students in the Higher Education Student Financial Assistance Program.

B. 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.