Chev staff told the Senate finance education subcommittee that need-based aid appropriations rose sharply in 2023-24 but unmet student need grew because non-tuition costs outpaced tuition; officials warned TAG reserves are being drawn down, urged simplification of state aid, and described the Pell Initiativeof Virginiaand institution barrier reviews.

HB 414, described as Delegate Guzman's bill and identical to a 2022 session measure, was reported 22–0 to remove Selective Service registration as a condition for state financial-aid eligibility, aligning state policy with federal changes.