VirginiaHB12212026 Regular SessionHouseWALLET

Higher ed. financial aid programs; amends provisions, Va. Commonwealth Award established, report.

Sponsored By: Briana D. Sewell (Democratic)

Signed by Governor

Summary

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. 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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Bill Overview

Analyzed Economic Effects

3 provisions identified: 2 benefits, 0 costs, 1 mixed.

Graduate students get school-set college grants

Graduate students at Virginia public colleges can qualify for Commonwealth Awards through full-time enrollment in a federally aid-eligible program. Enrollment must meet this rule on or after the term’s census date, when enrollment is locked for aid purposes. Students must show financial need or meet other criteria set by their school. Schools set award amounts and annually report the highest graduate award paid from designated state funds to Virginia’s higher education council. Renewal requires satisfactory academic progress and continued full-time enrollment in an eligible program.

New grants for Virginia public college undergraduates

The law creates Virginia Commonwealth Awards to help pay public college costs; grants can go directly to schools for students. Undergraduates must meet Virginia residency rules, show financial need, and attend a federally aid-eligible program at least half-time. Enrollment is checked on or after the term’s census date, when enrollment is locked for aid purposes. Financial need equals attendance costs minus the student aid index. Students must meet applicable Selective Service registration rules. While that requirement still applies, students can qualify by showing it is more likely than not that their failure to register was not knowing and willful. Renewal requires continued eligibility and academic progress under the school’s federal aid standards, replacing the former stated GPA and continuous full-time requirements. The law does not set an award amount.

Old college grants end; renewals remain limited

Starting with first-time students enrolling in fall 2027, public colleges cannot offer new Virginia Guaranteed Assistance Program grants. Students who received these grants in the 2026–2027 school year can keep renewing under the former renewal requirements. These students can receive up to three additional award years, with a limit of four total including the initial year.

Sponsors & Cosponsors

Sponsor

  • Briana D. Sewell

    Democratic • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 270 • No: 100

Senate vote • 3/10/2026

Finance and Appropriations Substitute receded by Senate

Yes: 39 • No: 0

House vote • 3/6/2026

Senate substitute rejected by House

Yes: 3 • No: 94

Senate vote • 3/4/2026

Passed Senate with substitute Block Vote

Yes: 40 • No: 0

Senate vote • 3/4/2026

Finance and Appropriations Substitute agreed to

Yes: 0 • No: 0

Senate vote • 3/3/2026

Constitutional reading dispensed Block Vote (on 2nd reading)

Yes: 40 • No: 0

Senate vote • 3/3/2026

Passed by for the day Block Vote (Voice Vote)

Yes: 0 • No: 0

Senate vote • 3/3/2026

Reported from Finance and Appropriations with substitute

Yes: 14 • No: 0

Senate vote • 2/19/2026

Reported from Education and Health and rereferred to Finance and Appropriations

Yes: 15 • No: 0

House vote • 2/5/2026

Read third time and passed House

Yes: 91 • No: 6

House vote • 1/30/2026

Reported from Appropriations

Yes: 21 • No: 0

House vote • 1/28/2026

Subcommittee recommends reporting

Yes: 7 • No: 0

Actions Timeline

  1. Acts of Assembly Chapter text (CHAP0272)

    4/6/2026Governor
  2. Approved by Governor-Chapter 272 (effective 7/1/2026)

    4/6/2026Governor
  3. Fiscal Impact Statement from Department of Planning and Budget (HB1221)

    3/31/2026House
  4. Governor's Action Deadline 11:59 p.m., April 13, 2026

    3/31/2026Governor
  5. Enrolled Bill communicated to Governor on March 31, 2026

    3/31/2026House
  6. Signed by Speaker

    3/31/2026House
  7. Bill text as passed House and Senate (HB1221ER)

    3/30/2026House
  8. Enrolled

    3/30/2026House
  9. Signed by President

    3/30/2026Senate
  10. Finance and Appropriations Substitute receded by Senate (39-Y 0-N 0-A)

    3/10/2026Senate
  11. Senate substitute rejected by House (3-Y 94-N 0-A)

    3/6/2026House
  12. Fiscal Impact Statement from Department of Planning and Budget (HB1221)

    3/5/2026House
  13. Passed Senate with substitute Block Vote (40-Y 0-N 0-A)

    3/4/2026Senate
  14. Finance and Appropriations Substitute agreed to

    3/4/2026Senate
  15. Committee substitute printed 26109059D-S1

    3/4/2026Senate
  16. Engrossed by Senate - committee substitute

    3/4/2026Senate
  17. Read third time

    3/4/2026Senate
  18. Passed by for the day Block Vote (Voice Vote)

    3/3/2026Senate
  19. Constitutional reading dispensed Block Vote (on 2nd reading) (40-Y 0-N 0-A)

    3/3/2026Senate
  20. Rules suspended

    3/3/2026Senate
  21. Reported from Finance and Appropriations with substitute (14-Y 0-N)

    3/3/2026Senate
  22. Reported from Education and Health and rereferred to Finance and Appropriations (15-Y 0-N)

    2/19/2026Senate
  23. Referred to Committee on Education and Health

    2/6/2026Senate
  24. Constitutional reading dispensed (on 1st reading)

    2/6/2026Senate
  25. Read third time and passed House (91-Y 6-N 0-A)

    2/5/2026House

Bill Text

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