Contains whereas clauses.

Enacts Article 34A, The John Rollins Scholarship Protection Act” in GS Chapter 116. Contains four definitions, including institutional financial aid (all grants, scholarships, tuition waivers, and other forms of financial assistance provided to a student based on need or merit by a public institution of higher education. Institutional financial aid does not include loans or funds related to work-study programs). Prevents, in GS 116-286, a public institution of higher education from reducing the institutional financial aid of a student due to that student's receipt of a private scholarship. Requires the Board of Governors of The University of North Carolina and the State Board of Community Colleges to each adopt a policy to enforce GS 116-286, to include reporting requirements from each public institution of higher education on the cost of attendance and the average financial aid given to students with private scholarship compared to those without. Requires the Board of Governors to report the information to the specified NCGA committee by March 15 each year. Adds new GS 115D-40.4 requiring the State Board of Community College and each community college to comply with the provisions of new GS 116-286 to ensure that the institutional financial aid provided to a student is not reduced due to the student's receipt of a private scholarship.

Appropriates $160,000 in recurring funds from the General Fund to the Board of Governors beginning in 2026-27 to be allocated to the UNC constituent institutions based on enrollment to increase funds available for financial aid to students. Appropriates $580,000 in recurring funds from the General Fund to the Community Colleges System Office beginning in 2026-27 to be allocated to community colleges based on enrollment to increase funds available for financial aid to students. Effective July 1, 2026.

Effective when it becomes law and applies beginning with scholarships awarded in the 2027-2028 academic year, except as otherwise provided.