Virginia Law

In order to participate in the program, eligible institutions not previously approved by the council to participate must file formal application with the council no later than January 31 of the calendar year preceding the calendar year in which fall term awards would first be available to students.

Applications shall be addressed to the council and shall include:

1. Estimates of the number of students who would be eligible to receive awards in the first and second years of participation;

2. A copy of the Fiscal Operations Report and Application to Participate in Federal Student Financial Aid Programs (FISAP) if participating in federal Title IV programs; and

3. Certifications from the institution's chief executive officer that the institution:

a. Meets each aspect of the definition of an eligible institution as defined in this chapter;

b. Offers academic programs that meet the definition of an eligible program and provides a list of such programs, including the officially recognized CIP codes for each program;

c. Will furnish whatever data the council may request in order to verify its institutional eligibility claims;

d. Will promptly notify the council within 30 days following any change in governance or mission that may affect the institution's status as an eligible institution;

e. By its governing body, has authorized its adherence to the requirements of this chapter, as the same are now constituted or hereafter amended, until such time as the institution may withdraw from participation in the program;

f. Will comply with the council's reports requirements and deadlines; and

g. Follows the guidance available in the SCHEV Financial Aid Award Letters Policies and Guidance by providing a sample of an undergraduate award notification for SCHEV review.

Applications must be approved and all documents must be on file before any funds are disbursed.

Council retains the prerogative to issue conditional approval to participate in the program if deemed necessary and provide a timeframe in which a follow-up review will be conducted before issuing final approval.

All subsequent new programs or site locations must be reported to the council by no later than August 1 of the calendar year preceding the calendar year in which fall term awards would first be available to students in the program or at the new site location.