Establishes the Teach for North Carolina Pilot Program to provide scholarship loans to teacher assistants in Richmond, Scotland, and Anson County school systems. Requires the Department of Public Instruction (DPI) to award a maximum of 30 four-year scholarship loans for 2015-16 and an additional 30 for 2016-17 to teacher assistants who are residents of the state working in the specifed school systems or in school systems in adjacent counties. Sets out terms that apply to the loans, including setting the loan amount at $7,000 and specifying how the money is to be used by the recipient, capping the interest rate at 10%, and setting out conditions under which a loan is forgiven. Urges the State Board of Education to consider modifying the teacher preparation and licensure requirements for loan recipients who have five years of experience as teacher assistants and have an associate's degree. Requires DPI to evaluate each loan recipient annually. Requires DPI to report on the implementation of the pilot program no later than December 1, 2015, to the Joint Legislative Education Oversight Committee.

Provides that if the distance to the nearest constituent institution of the University of North Carolina with a school of education limits student access, the University of North Carolina and the North Carolina Community College System must coordinate the establishment of satellite programs for loan recipients to complete the last two years of the program at community college campuses. Also requires those two entities to ensure that loan recipients majoring in teaching disciplines have a seamless transition from the community college to the university.

The above provisions are effective when the act becomes law and expire July 1, 2019.

Appropriates $300,000 for 2015-16 from the General Fund to the Department of Public Instruction and $510,000 for the 2016‑17 fiscal year. Requires that of these funds, $210,000 for the 2015‑16 fiscal year and $420,000 for the 2016‑17 fiscal year be used for scholarship loans. Requires DPI to use the remainder for one personnel position and other costs related to the administration of the Teach for North Carolina Pilot Program. Effective July 1, 2015.