Virginia College Savings Plan (174)

Authority: Title 23, Chapter 4.9, Code of Virginia.

A. Amounts for Payments for Tuition and Educational Expense Benefits represent the payment of benefits to postsecondary educational institutions on behalf of program participants under the Virginia Prepaid Education Program, estimated at $149,700,000 the first year and $165,700,000 the second year, to be funded from nongeneral funds pursuant to § 23-38.76, Code of Virginia.

B. Amounts for Payments for Tuition and Educational Expense Benefits represent the payment of educational expenses benefits to participants, postsecondary educational institutions, and beneficiaries under the Virginia Education Savings Trust and other higher education savings programs, estimated at $81,300,000 the first year and $88,700,000 the second year, to be funded from nongeneral funds pursuant to § 23-38.76, Code of Virginia.

C. Amounts for Payments for Tuition and Educational Expense Benefits cover the current obligations of the Fund as provided for in Title 23, Chapter 4.9, Code of Virginia.

D. Amounts for Investment, Trust and Related Services cover variable or unpredictable costs of the Virginia Prepaid Education Program, estimated at $3,570,726 the first year and $3,707,596 the second year, to be funded from nongeneral funds pursuant to § 23-38.76, Code of Virginia.

E. Amounts for Investment, Trust and Related Services cover variable and unpredictable costs of the Virginia Education Savings Trust and other higher education savings programs, estimated at $5,010,218 the first year and $5,133,075 the second year, to be funded from nongeneral funds pursuant to § 23-38.76, Code of Virginia.