Virginia Student Teacher Scholarship Program established; report. Establishes the Virginia Student Teacher Scholarship Program, to be administered by the State Council of Higher Education for Virginia in coordination with the Department of Education, whereby a student teacher who (i) is completing a required supervised clinical practice through a traditional educator preparation program in the Commonwealth, (ii) is assigned to complete such supervised clinical practice at a public elementary or secondary school in the Commonwealth without pay, and (iii) applies and meets certain eligibility criteria shall be awarded a scholarship in an amount not to exceed $7,500 per each supervised clinical practice experience to assist with expenses incurred during the supervised clinical practice. The bill contains provisions relating to Program administration and requires the Council to submit and publish an annual report containing certain Program data.