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2014 SESSION

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SB 429 Two-Year College Transfer Grant Program; amount of grant.

Introduced by: Emmett W. Hanger, Jr. | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED SENATE:

Two-Year College Transfer Grant Program; amount of grant. Provides that the amount of the Two-Year College Transfer Grant an eligible student receives shall be based on the difference between the costs of tuition and mandatory educational and general fees paid by the recipient at a Virginia two-year institution of higher education and either (i) for a student who transfers to a public four-year institution of higher education, the cost of such tuition and fees at the public institution of higher education to which he has transferred or (ii) for a student who transfers to a private four-year institution of higher education, the average cost of such tuition and fees at a Virginia four-year public institution of higher education. Current law provides for a fixed annual grant of $1,000 with an additional $1,000 per year for students pursuing certain undergraduate degrees. The bill broadens eligibility for the Two-Year College Transfer Grant Program by including students whose Expected Family Contribution, as calculated by the federal government using the family's financial information reported on the Free Application for Federal Student Aid (FAFSA), is no more than $12,000. Currently, the program is available only to students whose Expected Family Contribution is no more than $8,000. The bill also requires the State Council of Higher Education for Virginia to develop statistics on students receiving the transfer grants and examine whether there is a correlation between receiving the grant and graduation rates. The provisions of the bill are contingent on funding in a 2014 general appropriation act.

SUMMARY AS INTRODUCED:

Two-Year College Transfer Grant Program; amount of grant. Provides that the amount of the Two-Year College Transfer Grant an eligible student receives shall be based on the difference between the costs of tuition and mandatory educational and general fees paid by the recipient at a Virginia community college and either (i) for a student who transfers to a public institution of higher education, the cost of such tuition and fees at the public institution of higher education to which he has transferred or (ii) for a student who transfers to a private institution of higher education, the average cost of such tuition and fees at a Virginia four-year public institution of higher education. Current law provides for a fixed annual grant of $1,000 with an additional $1,000 per year for students pursuing certain undergraduate degrees. The bill also broadens eligibility for the Two-Year College Transfer Grant Program by including students whose Expected Family Contribution, as calculated by the federal government using the family's financial information reported on the Free Application for Federal Student Aid (FAFSA), is no more than $12,000. Currently, the program is available only to students whose Expected Family Contribution is no more than $8,000.