Bill Summaries: S108 (2021)

  • Summary date: Feb 17 2021 - View summary

    Adds new Part 5, Tuition Grant for Graduates of the North Carolina School of Science and Mathematics, in Article 23 of GS Chapter 116, providing as follows. Enacts GS 116-209.80 to establish the Tuition Grant for Graduates of the NC School of Science and Mathematics (NCSSM) Program (Program). Within the funds available to the Program, provides for the State Education Assistance Authority (Authority) to administer tuition grants in the amount of full tuition costs to eligible NCSSM graduates, beginning with the graduating students of 2020-21, who enroll full-time in a UNC constituent institution the next academic year for the full tuition amount, with continued eligibility for tuition grants for up to four years if the student is continuously enrolled in a UNC constituent institution. Allows for waiver of the continuous enrollment requirement for certain circumstances. Requires administration by the Authority, consistent with guidelines and procedures for the administration of other State-funded financial aid. Requires remittance of the grant directly to the constituent institution. Provides for refund of the grant for students who do not meet enrollment requirements; proportionate reduction of the grant for eligible students who receive other scholarships or grants covering the cost of attendance; and distribution of grants in pro rata amounts within available funds when funds are insufficient to provide each eligible student with a full tuition grant. Establishes the NC Tuition Grant Fund Reserve (Fund Reserve), administered by the Authority, to provide for tuition grants and administrative costs.

    Appropriates $1,124,950 from the General Fund to the UNC Board of Governors (BOG) for 2021-22 for the awarding of tuition grants for the 2021-22 academic year for the 2020-21 NCSSM graduating class.

    Appropriates $2,249,000 for 2021-22 and $3,374,850 in recurring funds for 2022-23 from the General Fund to the Fund Reserve for the awarding of tuition grants.

    States legislative intent to appropriate $4,499,800 in recurring funds to the Fund Reserve for 2023-34 for the awarding of grants.

    Effective July 1, 2021.