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 SB 167.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Apr 6Acts of Assembly Chapter text (CHAP0272)Latest
- Apr 6Approved by Governor Abigail Spanberger-Chapter 272 (effective 7/1/2026)Became Law
- Mar 31Governor's Action Deadline 11:59 p.m., April 13, 2026To Governor
- Mar 31Enrolled Bill communicated to Governor on March 31, 2026Minor
- Mar 31Signed by SpeakerMajor
- Mar 31Fiscal Impact Statement from Department of Planning and Budget (HB1221)
- Mar 30Signed by PresidentMajor
- Mar 30Bill text as passed House and Senate (HB1221ER)Major
- Mar 30EnrolledMinor
- Mar 10Finance and Appropriations Substitute receded by Senate (39-Y 0-N 0-A)
- Vote recorded Recede R. Result: pass.Upper
- Mar 6Senate substitute rejected by House (3-Y 94-N 0-A)
- Vote recorded H VOTE:. Result: fail.Lower
- Mar 5Fiscal Impact Statement from Department of Planning and Budget (HB1221)
- Mar 4Passed Senate with substitute Block Vote (40-Y 0-N 0-A)Passed Senate
- Vote recorded Passage R. Result: pass.Upper
- Mar 4Engrossed by Senate - committee substituteMajor
- Mar 4Finance and Appropriations Substitute agreed to
- Mar 4Read third timeMinor
- Mar 4Committee substitute printed 26109059D-S1Major
- Mar 3Passed by for the day (Voice Vote)
- Vote recorded Constitutional reading dispensed (on 2nd reading). Result: pass.Upper
- Vote recorded Reported from Finance and Appropriations with substitute. Result: pass.Upper
- Mar 3Constitutional reading dispensed (on 2nd reading) (40-Y 0-N 0-A)
- Mar 3Rules suspended
- Mar 3Reported from Finance and Appropriations with substitute (14-Y 0-N)Minor
- Feb 19Reported from Education and Health and rereferred to Finance and Appropriations (15-Y 0-N)Minor
- Vote recorded Reported from Education and Health. Result: pass.Upper
- Feb 6Referred to Committee on Education and HealthMinor
- Feb 6Constitutional reading dispensed (on 1st reading)
- Feb 5Read third time and passed House (91-Y 6-N 0-A)Passed House
- Vote recorded H VOTE:. Result: pass.Lower
- Feb 4Read second time and engrossedMinor
- Feb 4Moved from Uncontested Calendar to Regular Calendar
- Feb 3Read first timeMinor
- Jan 30Reported from Appropriations (21-Y 0-N)Minor
- Vote recorded Reported from Appropriations. Result: pass.Lower
- Jan 28Subcommittee recommends reporting (7-Y 0-N)
- Vote recorded Subcommittee recommends reporting. Result: pass.Lower
- Jan 26Fiscal Impact Statement from Department of Planning and Budget (HB1221)
- Jan 23Assigned HAPP sub: Higher EducationMinor
- Jan 14Referred to Committee on AppropriationsMinor
- Jan 14Prefiled and ordered printed; Offered 01-14-2026 26105155DIntroduced