Why 4/5: The bill establishes a new state financial aid program and phases out an existing one, directly impacting future college students' financial assistance.
This bill consolidates the Virginia Guaranteed Assistance Program into a new Virginia Commonwealth Award, establishing it in state law to streamline financial aid for undergraduate and graduate students. It also directs a work group to review financial aid systems to maximize accessibility and affordability for higher education.
Update
Finance and Appropriations Substitute agreed to
Substitute adopted
Engrossed by Senate - committee substitute
Passed a chamber
Passed Senate with substitute Block Vote (40-Y 0-N 0-A)
Update
Fiscal Impact Statement from Department of Planning and Budget (HB1221)
Update
Senate substitute rejected by House (3-Y 94-N 0-A)
Update
Finance and Appropriations Substitute receded by Senate (39-Y 0-N 0-A)
Enrolled
Enrolled
Passed a chamber
Bill text as passed House and Senate (HB1221ER)
Passed a chamber
Signed by President
This bill has passed its votes and is headed to the Governor's desk. You still have a say — the Governor's office reads messages before deciding whether to sign.
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Summarized from the official bill text (“Higher ed. financial aid programs; amends provisions, Va. Commonwealth Award established, report.”) · Read the actual bill →
Update
Fiscal Impact Statement from Department of Planning and Budget (HB1221)
Passed a chamber
Signed by Speaker
Enrolled
Enrolled Bill communicated to Governor on March 31, 2026
Sent to the Governor
Governor's Action Deadline 11:59 p.m., April 13, 2026
Signed into law
Approved by Governor-Chapter 272 (effective 7/1/2026)
Update
Acts of Assembly Chapter text (CHAP0272)