The legislation, originally proposed by Sen. Walter A. Stosch (SB 749) and Delegate Vincent F. Callahan (HB 1681), would allow students entering a Virginia community college or Richard Bland College in the fall of 2007 to be eligible for a transfer grant once they receive their associate’s degree while maintaining a minimum 3.0 grade point average and meet financial aid requirements. The grant will go toward their tuition expenses at a four-year college or university.

"This is an innovative and groundbreaking opportunity for Virginia families," said Glenn DuBois, chancellor of Virginia’s community colleges. "Making a college education more affordable improves lives, improves communities, and improves the economy of the commonwealth."

The legislation provides a $1,000 grant for all eligible students, with an extra $1,000 for students who pursue undergraduate work in engineering, math, nursing, teaching or science. The funds will be available to students whose families have an Expected Family Contribution of $8,000 or less as determined by filling out federal financial aid forms.

As prescribed in the legislation, the Virginia Community College System will work with the State Council of Higher Education for Virginia (SCHEV) to implement the transfer grants.

Creation of the transfer grants is an indication of the growing priority being placed on the importance of getting more Virginians to successfully complete higher education programs. Statistics show that people who earn a college degree are more likely to be employed, earn more money, and rely less upon government assistance. Higher education attainment is also proving to be a precondition for success in the global knowledge-based marketplace as jobs and opportunity come to the communities that successfully cultivate talent.

Getting more Virginians into higher education programs and having more Virginians earning college degrees are among the metrics in the Kaine Administration’s Strategic Plan for Economic Development. Recent Virginia data shows that, on average, only one out of five high school freshmen today will successfully complete a two- or four-year college degree program.