FISCAL NOTE
Date Requested: January 15, 2020 Time Requested: 05:30 PM |
Agency: |
Higher Education Policy Commission |
CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
2471 |
Introduced |
HB2059 |
|
CBD Subject: |
|
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|
FUND(S):
General Revenue
Sources of Revenue:
General Fund
Legislation creates:
Creates New Expense
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
House Bill 2059, if enacted, would increase PROMISE scholarships to persons majoring in STEM (Science, technology, engineering and mathematics) fields to pay the full cost of tuition, room and board.
At the 2018-2019 rate of tuition, room and board, upon full implementation, the annual costs would be about $101 million.
Fiscal Note Detail
Effect of Proposal |
Fiscal Year |
2020 Increase/Decrease (use"-") |
2021 Increase/Decrease (use"-") |
Fiscal Year (Upon Full Implementation) |
1. Estmated Total Cost |
0 |
18,023,000 |
53,732,000 |
Personal Services |
0 |
211,000 |
213,000 |
Current Expenses |
0 |
0 |
0 |
Repairs and Alterations |
0 |
0 |
0 |
Assets |
0 |
0 |
0 |
Other |
0 |
17,812,000 |
53,519,000 |
2. Estimated Total Revenues |
0 |
0 |
0 |
Explanation of above estimates (including long-range effect):
STEM Promise estimated cost includes the funding estimates for the following student populations:
Current PROMISE recipients going through the pipeline.
STEM PROMISE recipients attending public colleges and universities under the
current PROMISE qualifying criteria, both those majoring in STEM fields and not
majoring in STEM fields.
STEM PROMISE recipients attending independent colleges and universities under the
current PROMISE qualifying criteria, both those majoring in STEM fields and not
majoring in STEM fields.
Current PROMISE Recipients
The estimates are calculated based on the following assumptions for current PROMISE recipients:
Current PROMISE recipients continue to receive their current scholarship award
until the completion of the 4th year of the most recent PROMISE cohort under the
current rate of up to $4,750 per year.
The estimates of the number of PROMISE Scholars each year and the total funding is
calculated as the three-year average based on the latest data available.
New STEM PROMISE Recipients
Students who qualify for new STEM PROMISE Scholarship are:
Students who would meet the current PROMISE qualifications for initial award and
renewal.
Students who major in STEM fields, including those designated as pure STEM,
broader STEM fields, and Technology STEM receive an award up to the full tuition
and fees, room and board.
Students who do not major in STEM fields receive an award up $4,750 but does not
exceed full tuition and fees.
Total funding and number of student recipients of the STEM PROMISE Scholarship were estimated based on the following assumptions:
Number of students enrolling in public institutions (two-year and four-year) was
estimated on the three-year average number of current PROMISE scholars.
Number of students who major in a STEM field is calculated as three-year average
based on the current PROMISE cohort data.
Administrative cost is estimated at $20,000 per 1,000 students serviced.
Administrative cost is associated with ensuring student initial and renewal
eligibility monitoring.
All students attending four-year public institutions and majoring in STEM fields
were assumed to be charged room and board.
Estimated cost for recipients attending two-year public institutions was
calculated as the average tuition at community and technical colleges for 2018-
2019 academic year ($4,040).
Estimated cost for recipients attending four-year public institutions and majoring
in a STEM field was calculated as the average tuition and room and board charges
at public four-year colleges and universities for 2018-2019 ($16,551).
Estimated cost for recipients attending four-year public institutions and NOT
majoring in a STEM field was calculated as current maximum PROMISE award ($4,750).
Estimated cost for recipients attending independent institutions,regardless of
their field of study was calculated as current maximum PROMISE award ($4,750).
New STEM PROMISE Recipients
Students who qualify for new STEM PROMISE Scholarship are:
Students who would meet the current PROMISE qualifications for initial award and
renewal.
Students who major in STEM fields, including those designated as pure STEM,
broader STEM fields, and Technology STEM receive an award up to the full tuition
and fees, room and board.
Students who do not major in STEM fields receive an award up $4,750 but does not
exceed full tuition and fees.
Memorandum
Person submitting Fiscal Note: Ed Magee
Email Address: edward.magee@wvhepc.edu