VirginiaHigher ed. financial aid programs; amends provisions, Va. Commonwealth Award established, report.
What it does
Public institutions of higher education; financial aid review and consolidation; Virginia Guaranteed Assistance Program and Fund; Virginia Commonwealth Award established; work group; report. Amends several provisions relating to higher education financial aid programs for the purpose of establishing the Virginia Commonwealth Award in the Code of Virginia and consolidating the Virginia Guaranteed Assistance Program and Fund with the Virginia Commonwealth Award. Currently, the Virginia Commonwealth Award is established and administered only in the Virginia Administrative Code.
More detail
In consolidating and establishing such financial aid programs as the Virginia Commonwealth Award, the bill codifies several definitions and provisions relating to award eligibility and renewal for undergraduate students and graduate students. The bill also repeals a provision of law establishing the Virginia Guaranteed Assistance Fund. The bill directs the State Council of Higher Education for Virginia to promulgate emergency regulations for the administration of financial aid in accordance with the provisions of the bill by April 1, 2027. The bill also directs the Secretary of Education to (i) establish a work group to conduct a comprehensive review of higher education financial aid systems and processes in the Commonwealth and make recommendations on strategies for maximizing the efficacy and impact of state financial aid appropriations on accessibility and affordability of and student outcomes in higher education in the Commonwealth and (ii) submit to the chairs of the applicable committees of the General Assembly by July 1, 2027, a report on the work group's findings and recommendations. Finally, the bill provides for the gradual phase-out of the award of grants under the Virginia Guaranteed Assistance Program by (a) prohibiting any first-time students from being offered a grant under the Virginia Guaranteed Assistance Program beginning with first-time students enrolled in the fall semester of 2027 and (b) permitting any public institution of higher education to provide for the annual renewal of grant awards under such program for no more than three subsequent award years, or up to a total of four award years, to any student who receives a grant during the 2026–2027 school year and continues to meet the requirements for grant renewal set forth in applicable law. This bill is identical to HB 1221.
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Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Apr 6Acts of Assembly Chapter text (CHAP0273)Latest
- Apr 6Approved by Governor Abigail Spanberger-Chapter 273 (effective 7/1/2026)Became Law
- Mar 10Governor's Action Deadline 11:59 p.m., April 13, 2026To Governor
- Mar 10Enrolled Bill communicated to Governor on March 10, 2026Minor
- Mar 5Fiscal Impact Statement from Department of Planning and Budget (SB167)
- Mar 4Signed by PresidentMajor
- Mar 4Signed by SpeakerMajor
- Mar 4Bill text as passed Senate and House (SB167ER)Major
- Mar 4EnrolledMinor
- Feb 27House substitute agreed to by Senate (39-Y 0-N 0-A)Major
- Vote recorded Concur House Substitute R. Result: pass.Upper
- Feb 25Passed House with substitute (97-Y 0-N 0-A)Passed House
- Vote recorded H VOTE:. Result: pass.Lower
- Feb 25Engrossed by House - committee substituteMajor
- Feb 25committee substitute agreed toMajor
- Feb 25Read third timeMinor
- Feb 25Fiscal Impact Statement from Department of Planning and Budget (SB167)
- Feb 24Read second timeMinor
- Feb 20Committee substitute printed 26108244D-H1Major
- Vote recorded Reported from Appropriations with substitute. Result: pass.Lower
- Feb 20Reported from Appropriations with substitute (22-Y 0-N)Minor
- Feb 20House committee offered
- Feb 12Assigned HAPP sub: Higher EducationMinor
- Feb 12Referred to Committee on AppropriationsMinor
- Feb 12Read first timeMinor
- Feb 12Placed on Calendar
- Feb 9Read third time and passed Senate (40-Y 0-N 0-A)Passed Senate
- Vote recorded Passage R. Result: pass.Upper
- Feb 6Engrossed by Senate (Voice Vote)
- Feb 6Read second timeMinor
- Feb 5Passed by for the day
- Vote recorded Constitutional reading dispensed R. Result: pass.Upper
- Feb 5Passed by for the day (Voice Vote)
- Feb 5Constitutional reading dispensed Block Vote (on 1st reading) (40-Y 0-N 0-A)
- Feb 5Rules suspended
- Feb 4Reported from Finance and Appropriations (15-Y 0-N)Minor
- Vote recorded Reported from Finance and Appropriations. Result: pass.Upper
- Jan 26Fiscal Impact Statement from Department of Planning and Budget (SB167)
- Jan 22Reported from Education and Health and rereferred to Finance and Appropriations (14-Y 0-N)Minor
- Vote recorded Reported from Education and Health. Result: pass.Upper
- Jan 19Assigned Education sub: Higher EducationMinor
- Jan 8Referred to Committee on Education and HealthMinor
- Jan 8Prefiled and ordered printed; Offered 01-14-2026 26101621DIntroduced