Item 152 | First Year - FY2025 | Second Year - FY2026 |
|---|
|
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| Higher Education Student Financial Assistance (10800) | $122,877,744 | $123,262,124 |
| Scholarships (10810) | FY2025 $115,890,428 | FY2026 $116,052,308 |
| Fellowships (10820) | FY2025 $6,987,316 | FY2026 $7,209,816 |
| Fund Sources: | | |
| General | FY2025 $81,181,744 | FY2026 $81,566,124 |
| Higher Education Operating | FY2025 $41,696,000 | FY2026 $41,696,000 |
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.
C. The appropriation for the fund source Higher Education Operating in this Item shall be considered a 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 George Mason University and the Commonwealth, as set forth in Chapters 76 and 77, 2021 Acts of Assembly, Special Session I.