VirginiaSB1672026 Regular SessionSenateWALLET

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

Sponsored By: Schuyler T. VanValkenburg (Democratic)

Became Law

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 HB 1221.

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Bill Overview

Analyzed Economic Effects

4 provisions identified: 2 benefits, 0 costs, 2 mixed.

New need-based grants for undergraduates

Virginia creates the Commonwealth Award to help undergraduates at public colleges pay tuition, fees, books, and other costs. To qualify, you must be accepted for full-time on or after the term’s census date, be enrolled at least half-time, meet Virginia domicile rules, show financial need, and meet selective service rules or show your non‑registration was not knowing and willful. Award amounts vary by your remaining need and total charges, and each school uses its own schedule; payments can go straight to the school. Renewal requires at least a 2.0 GPA or school-defined satisfactory progress, continued financial need, and full-time enrollment for at least two semesters or three quarters each year unless the Council grants an exception. Awards are for one year at a time, renewable up to three more years, with no more than one year per class level; up to four years total at a bachelor’s school and two at an associate school (no more than four years combined). For first-time students from fall 2018 on, students in higher class levels receive larger grants than those with the same need in the next lower class level.

Old aid ends for new students 2027

Starting with first-time students who enroll in fall 2027, schools cannot offer new grants under the old Virginia Guaranteed Assistance Program. Students who had a grant in 2026–2027 can renew it for up to three more award years (four total including the first year) if they keep meeting the old renewal rules.

Grants now open to grad students

Full-time graduate students at public Virginia colleges can qualify for Commonwealth Awards if enrolled on or after the term’s census date. You must show financial need or meet other criteria set by your school. Schools set award sizes and must report the maximum graduate award paid from state funds each year. Awards can renew if you keep satisfactory academic progress and stay enrolled full-time.

New rules to run college aid

The State Council of Higher Education must adopt emergency rules for financial aid by April 1, 2027, with a chance for public comment. Schools must use their own undergraduate aid first before using Commonwealth Award funds for students with the same remaining need. The law also repeals an older code section as part of this change.

Sponsors & Cosponsors

Sponsor

  • Schuyler T. VanValkenburg

    Democratic • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 267 • No: 0

Senate vote 2/27/2026

House substitute agreed to by Senate

Yes: 39 • No: 0

House vote 2/25/2026

Passed House with substitute Block Vote

Yes: 97 • No: 0

House vote 2/20/2026

Reported from Appropriations with substitute

Yes: 22 • No: 0

Senate vote 2/9/2026

Read third time and passed Senate Block Vote

Yes: 40 • No: 0

Senate vote 2/6/2026

Engrossed by Senate Block Vote (Voice Vote)

Yes: 0 • No: 0

Senate vote 2/5/2026

Constitutional reading dispensed Block Vote (on 1st reading)

Yes: 40 • No: 0

Senate vote 2/5/2026

Passed by for the day Block Vote (Voice Vote)

Yes: 0 • No: 0

Senate vote 2/4/2026

Reported from Finance and Appropriations

Yes: 15 • No: 0

Senate vote 1/22/2026

Reported from Education and Health and rereferred to Finance and Appropriations

Yes: 14 • No: 0

Actions Timeline

  1. Acts of Assembly Chapter text (CHAP0273)

    4/6/2026Governor
  2. Approved by Governor-Chapter 273 (effective 7/1/2026)

    4/6/2026Governor
  3. Governor's Action Deadline 11:59 p.m., April 13, 2026

    3/10/2026Governor
  4. Enrolled Bill communicated to Governor on March 10, 2026

    3/10/2026Senate
  5. Fiscal Impact Statement from Department of Planning and Budget (SB167)

    3/5/2026Senate
  6. Bill text as passed Senate and House (SB167ER)

    3/4/2026Senate
  7. Enrolled

    3/4/2026Senate
  8. Signed by President

    3/4/2026Senate
  9. Signed by Speaker

    3/4/2026House
  10. House substitute agreed to by Senate (39-Y 0-N 0-A)

    2/27/2026Senate
  11. Passed House with substitute Block Vote (97-Y 0-N 0-A)

    2/25/2026House
  12. Engrossed by House - committee substitute

    2/25/2026House
  13. committee substitute agreed to

    2/25/2026House
  14. Read third time

    2/25/2026House
  15. Fiscal Impact Statement from Department of Planning and Budget (SB167)

    2/25/2026Senate
  16. Read second time

    2/24/2026House
  17. Committee substitute printed 26108244D-H1

    2/20/2026House
  18. Reported from Appropriations with substitute (22-Y 0-N)

    2/20/2026House
  19. House committee offered

    2/20/2026House
  20. Assigned HAPP sub: Higher Education

    2/12/2026House
  21. Referred to Committee on Appropriations

    2/12/2026House
  22. Read first time

    2/12/2026House
  23. Placed on Calendar

    2/12/2026House
  24. Read third time and passed Senate Block Vote (40-Y 0-N 0-A)

    2/9/2026Senate
  25. Engrossed by Senate Block Vote (Voice Vote)

    2/6/2026Senate

Bill Text

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