Enacts new GS 115C-499.10 to provide that a student who is eligible for a scholarship for needy students under GS 115C-499.2 is also eligible for an additional merit scholarship if the student graduated from high school earning a grade point average of at least 3.0. Specifies that students who fail to meet the GPA requirement may be eligible for the merit scholarship if the student completes two specified requirements. Provides requirements for a student to continue to be eligible for the merit scholarship. Prohibits a student from receiving a merit scholarship for more than four full academic years. Limits the scholarships to $1,000 per academic semester and requires that it be used for costs of attendance.

Amends GS 115C-499.4 to allow the State Education Assistance Authority to use up to 1.5% of the funds appropriated for the merit scholarships for administrative purposes.

Appropriates $5 million for 2013-14 and $5 million for 2014-15 from the General Fund to the State Education Assistance Authority for the scholarships.

Effective July 1, 2013, and applies to the 2013-14 fall academic semester and each subsequent academic semester.