Amends GS 115D-40.1 (Financial Assistance for Community College Students) to allow a community college board of trustees to adopt a resolution declining to participate in the William D. Ford Federal Direct Loan Program (loan program). Community colleges are required to participate in the loan program unless such a resolution is adopted. Allows a board of trustees that has adopted a resolution declining to participate in the loan program to rescind the resolution and participate in the loan program, but takes away that institution’s option of declining further participation in the loan program. Makes conforming changes.