HB1221
Higher ed. financial aid programs; amends provisions, Va. Commonwealth Award established, report.
Status:
In House
Latest Action:
Feb. 4, 2026
House: Read second time and engrossed
Chief Patron:
Briana Sewell (D)
Session:
2026 Regular Session
Summary
As Introduced. 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 ... (More) Virginia Administrative Code. 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. (Less)-
Bill History
- 01/14/2026 - House: Prefiled and ordered printed; Offered 01-14-2026 26105155D
- 01/14/2026 - House: Referred to Committee on Appropriations
- 01/23/2026 - House: Assigned HAPP sub: Higher Education
- 01/26/2026 - House: Fiscal Impact Statement from Department of Planning and Budget (HB1221)
- 01/27/2026 - House: Placed on Appropriations Agenda
- 01/28/2026 - House: Subcommittee recommends reporting (7-Y 0-N)
- 01/29/2026 - House: Placed on Appropriations Agenda
- 01/30/2026 - House: Reported from Appropriations (21-Y 0-N)
- 02/03/2026 - House: Read first time
- 02/04/2026 - House: Moved from Uncontested Calendar to Regular Calendar
- 02/04/2026 - House: Read second time and engrossed
