reglab/statecodes huggingface dataset:
2023 North Carolina General Statutes › Chapter 116 - Higher Education › Article 23 - State Education Assistance. › § 116-209.2 - Reserves.

§ 116-209.2. Reserves.
The Authority may provide in any resolution authorizing the issuance of bonds or any trust agreement securing any bonds that proceeds of such bonds may be used to establish reserve accounts in any trustee or banking institution or otherwise as determined by the Authority, for securing such bonds and facilitating the making of student loans and acquiring student obligations, to provide for the payment of interest on such bonds for such period of time as the Authority shall determine, and for such other purposes as will facilitate the issuance of bonds at rates of interest and upon terms deemed reasonable by the Authority and will, in the Authority's judgment, facilitate carrying out the purposes of this Article. (1967, c. 1177; 1971, c. 392, s. 3.)
2023 North Carolina General Statutes › Chapter 116 - Higher Education › Article 23 - State Education Assistance. › § 116-209.3 - Additional powers.

§ 116-209.3. Additional powers.
The Authority is authorized to develop and administer programs and perform all functions necessary or convenient to promote and facilitate the making and insuring of student loans and providing such other student loan assistance and services as the Authority shall deem necessary or desirable for carrying out the purposes of this Article and for qualifying for loans, grants, insurance and other benefits and assistance under any program of the United States now or hereafter authorized fostering student loans. There shall be established and maintained a trust fund which shall be designated "State Education Assistance Authority Loan Fund" (the "Loan Fund") which may be used by the Authority in making student loans directly or through agents or independent contractors, insuring student loans, acquiring, purchasing, endorsing or guaranteeing promissory notes, contracts, obligations or other legal instruments evidencing student loans made by banks, educational institutions, nonprofit corporations or other eligible lenders, and for defraying the expenses of operation and administration of the Authority for which other funds are not available to the Authority. There shall be deposited to the credit of such Loan Fund the proceeds (exclusive of accrued interest) derived from the sale of its revenue bonds by the Authority and any other moneys made available to the Authority for the making or insuring of student loans or the purchase of obligations. There shall also be deposited to the credit of the Loan Fund surplus funds from time to time transferred by the Authority from the sinking fund. Such Loan Fund shall be maintained as a revolving fund. There is also deposited to the credit of the Loan Fund the income derived from the investment or deposit of the Escheat Fund distributed to the Authority pursuant to G.S. 116B-7. The income shall be held, administered and applied by the Authority as provided in any resolution adopted or trust agreement approved by the Authority, subject to the provisions of Chapter 116B of the General Statutes and this Article.
In lieu of or in addition to the Loan Fund, the Authority may provide in any resolution authorizing the issuance of bonds or any trust agreement securing such bonds that any other trust funds or accounts may be established as may be deemed necessary or convenient for securing the bonds or for making student loans, acquiring obligations or otherwise carrying out its other powers under this Article, and there may be deposited to the credit of any such fund or account proceeds of bonds or other money available to the Authority for the purposes to be served by such fund or account. (1967, c. 1177; 1971, c. 392, s. 4; 1979, c. 165, s. 5; 1987, c. 227, s. 6; 1999-460, s. 12.)
2023 North Carolina General Statutes › Chapter 116 - Higher Education › Article 23 - State Education Assistance. › § 116-209.6 - Revenues.

§ 116-209.6. Revenues.
The Authority is authorized to fix and collect fees, charges, interest and premiums for making or insuring student loans, purchasing, endorsing or guaranteeing obligations and any other services performed under this Article. The Authority is further authorized to contract with the United States of America or any agency or officer thereof and with any person, partnership, association, banking institution or other corporation respecting the carrying out of the Authority's functions under this Article. The Authority shall at all times endeavor to fix and collect such fees, charges, receipts, premiums and other income so as to have available in the sinking fund at all times an amount which, together with any other funds made available therefor, shall be sufficient to pay the principal of and the interest on such bonds as the same shall become due and payable and to create reserves for such purposes. Money in the sinking fund, except such part thereof as may be necessary to provide such reserves for the bonds as may be provided for in the resolution authorizing the issuance of such bonds, shall be set aside in the sinking fund at such regular intervals as may be provided in such resolution and is hereby pledged to, and charged with, the payment of the principal of and the interest on such bonds as the same shall become due and the redemption price or the purchase price of bonds retired by call or purchase as therein provided. Such pledge shall be valid and binding from the time when the pledge is made. The fees, charges, receipts, proceeds and other revenues and moneys so pledged and thereafter received by the Authority shall immediately be subject to the lien of such pledge without any physical delivery thereof or further act, and the lien of any such pledge shall be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against the Authority, irrespective of whether such parties have notice thereof. The resolution by which a pledge is created need not be filed or recorded except in the records of the Authority. The use and disposition of money to the credit of the sinking fund shall be subject to the provisions of the resolution authorizing the issuance of such bonds. Any such resolution may, in the discretion of the Authority, provide for the transfer of surplus money in the sinking fund to the credit of the Loan Fund. Except as may otherwise be provided in such resolution, such sinking fund shall be a fund for all such bonds without distinction or priority of one over another. (1967, c. 1177.)
2023 North Carolina General Statutes › Chapter 116 - Higher Education › Article 23 - State Education Assistance. › § 116-209.7 - Trust funds.

§ 116-209.7. Trust funds.
Notwithstanding any other provisions of law to the contrary, all money received pursuant to the authority of the Article, whether as proceeds from the sale of bonds, sale of property or insurance, or as payments of student loans, whether principal, interest or penalties, if any, thereon, or as insurance premiums, or from the purchase or sale of obligations, or as any other receipts or revenues derived hereunder, shall be deemed to be trust funds to be held and applied solely as provided in this Article. The resolution authorizing the bonds of any issue may provide that any of such money may be temporarily invested pending the disbursement thereof and shall provide that any officer with whom, or any bank or trust company with which, such money shall be deposited shall act as trustee of such money and shall hold and apply the same for the purposes hereof, subject to such regulations as this Article and such resolution may provide. (1967, c. 1177.)
2023 North Carolina General Statutes › Chapter 116 - Higher Education › Article 23 - State Education Assistance. › § 116-209.8 - Remedies.

§ 116-209.8. Remedies.
Any holder of bonds issued under the provisions of this Article or any of the coupons appertaining thereto, except to the extent the rights herein given may be restricted by such resolution authorizing the issuance of such bonds, may either at law or in equity, by suit, action, mandamus or other proceeding, protect and enforce any and all rights under the laws of the State or granted hereunder or under such resolution authorizing the issuance of such bonds, or under any contract executed by the Authority pursuant to this Article, and may enforce and compel the performance of all duties required by this Article or by such resolution to be performed by the Authority or by any officer thereof, including the fixing, charging and collecting of fees, charges and premiums and the collection of principal, interest and penalties, if any, on student loans or obligations evidencing such loans. The Authority may provide in any trust agreement securing the bonds that any such rights may be enforced for and on behalf of the holders of bonds by the trustee under such trust agreement. (1967, c. 1177; 1971, c. 392, s. 9.)
2023 North Carolina General Statutes › Chapter 116 - Higher Education › Article 23 - State Education Assistance. › § 116-209.9 - Negotiability of bonds.

§ 116-209.9. Negotiability of bonds.
All bonds issued under the provisions of this Article shall have and are hereby declared to have all the qualities and incidents, including negotiability, of investment securities under the Uniform Commercial Code of the State but no provision of such Code respecting the filing of a financial statement to perfect a security interest shall be deemed applicable to or necessary for any security interest created in connection with the issuance of any such bonds. (1967, c. 1177; 1971, c. 392, s. 10.)
2023 North Carolina General Statutes › Chapter 116 - Higher Education › Article 23 - State Education Assistance. › § 116-209.10 - Bonds eligible for investment.

§ 116-209.10. Bonds eligible for investment.
Bonds issued by the Authority under the provisions of this Article are hereby made securities in which all public officers and public bodies of the State and its political subdivisions, all insurance companies, trust companies, banking associations, investment companies, executors, administrators, trustees and other fiduciaries may properly and legally invest funds, including capital in their control or belonging to them. Such bonds are hereby made securities which may properly and legally be deposited with and received by any State or municipal officer or any agency or political subdivision of the State for any purpose for which the deposit of bonds or obligations of the State is now or may hereafter be authorized by law. (1967, c. 1177.)
2023 North Carolina General Statutes › Chapter 116 - Higher Education › Article 23 - State Education Assistance. › § 116-209.11 - Additional pledge.

§ 116-209.11. Additional pledge.
Notwithstanding any other provision to the contrary herein, the Authority is hereby authorized to pledge as security for any bonds issued hereunder any contract between the Authority and the United States of America under which the United States agrees to make funds available to the Authority for any of the purposes of this Article, to insure or guarantee the payment of interest or principal on student loans, or otherwise to aid in promoting or facilitating student loans. (1967, c. 1177.)
2023 North Carolina General Statutes › Chapter 116 - Higher Education › Article 23 - State Education Assistance. › § 116-209.12 - Credit of State not pledged.

§ 116-209.12. Credit of State not pledged.
Bonds issued under the provisions of this Article shall not be deemed to constitute a debt, liability or obligation of the State or of any political subdivision thereof or a pledge of the faith and credit of the State or of any such political subdivision, but shall be payable solely from the revenues and other funds provided therefor. Each bond issued under this Article shall contain on the face thereof a statement to the effect that the Authority shall not be obligated to pay the same nor the interest thereon except from the revenues, proceeds and other funds pledged therefor and that neither the faith and credit nor the taxing power of the State or of any political subdivision thereof is pledged to the payment of the principal of or the interest on such bonds. Expenses incurred by the Authority in carrying out the provisions of this Article may be made payable from funds provided pursuant to this Article and no liability or obligation shall be incurred by the Authority hereunder beyond the extent to which moneys shall have been so provided. (1967, c. 1177.)
2023 North Carolina General Statutes › Chapter 116 - Higher Education › Article 23 - State Education Assistance. › § 116-209.13 - Tax exemption.

§ 116-209.13. Tax exemption.
The exercise of the powers granted by this Article in all respects will be for the benefit of the people of the State, for their well-being and prosperity and for the improvement of their social and economic conditions, and the Authority shall not be required to pay any taxes on any property owned by the Authority under the provisions of this Article or upon the income therefrom, and the bonds issued under the provisions of this Article shall at all times be free from taxation by the State or any local unit or political subdivision or other instrumentality of the State, excepting inheritance or gift taxes, income taxes on the gain from the transfer of the bonds, and franchise taxes. The interest on the bonds is not subject to taxation as income. (1967, c. 1177; 1995, c. 46, s. 9.)
2023 North Carolina General Statutes › Chapter 116 - Higher Education › Article 23 - State Education Assistance. › § 116-209.14 - Annual reports.

§ 116-209.14. Annual reports.
The Authority shall, following the close of each fiscal year, publish an annual report of its activities for the preceding year to the Board of Governors of The University of North Carolina, the Governor, and the General Assembly. Each report shall set forth a complete operating and financial statement covering the operations of the Authority during the year. The operations of the Authority shall be subject to the oversight of the State Auditor pursuant to Article 5A of Chapter 147 of the General Statutes. (1967, c. 1177; 1979, c. 165, s. 7; 1983, c. 913, s. 20; 2021-180, s. 8A.4(d).)
2023 North Carolina General Statutes › Chapter 116 - Higher Education › Article 23 - State Education Assistance. › § 116-209.15 - Merger of trust fund.

§ 116-209.15. Merger of trust fund.
The Authority may merge into the Loan Fund the trust fund established pursuant to G.S. 116-209 hereof and may transfer from such trust fund to the credit of the Loan Fund all money, investments and other assets and resources credited to such trust fund, for application and use in accordance with the provisions of this Article pertaining to the Loan Fund, including the power to pay expenses of the Authority from the Loan Fund to the extent that other funds are not available therefor. (1967, c. 1177.)
2023 North Carolina General Statutes › Chapter 116 - Higher Education › Article 23 - State Education Assistance. › § 116-209.16 - Other powers; criteria.

§ 116-209.16. Other powers; criteria.
The Authority, in addition to all the powers more specifically vested hereunder, shall have all other powers necessary or convenient to carry out and effectuate the purposes and provisions of this Article, including the power to receive, administer and comply with the conditions and requirements respecting any gift, grant or donation of any property or money, any insurance or guarantee of any student loan or student obligations, any loans, advances, contributions, interest subsidies or any other assistance from any federal or State agency or other entity; to pledge or assign any money, charges, fees or other revenues and any proceeds derived by the Authority from any student loans, obligations, sales of property, insurance or other sources; to borrow money and to issue in evidence thereof revenue bonds of the Authority for the purposes of this Article and to issue revenue refunding bonds; to conduct studies and surveys respecting the needs for financial assistance of residents of the State respecting education beyond the high school level.
In carrying out the powers vested and the responsibilities imposed under this Article, the Authority shall be guided by and shall observe the following criteria and requirements, the determination of the Authority as to compliance with such criteria and requirements being final and conclusive:
(1) Any student loan, grant or other assistance provided by the Authority to any student shall be necessary to enable the student to pursue his education above the high school level; and
(2) No student loan, grant or other financial assistance shall be provided to any student by the Authority except in conformity with the provisions of this Article and to carry out the purposes hereof.
The Authority shall by rules and regulations prescribe other conditions, criteria and requirements that it shall deem necessary or desirable for providing financial assistance to students under this Article upon a fair and equitable basis, giving due regard to the needs and qualifications of the students and to the purposes of this Article. (1971, c. 392, s. 11.)
2023 North Carolina General Statutes › Chapter 116 - Higher Education › Article 23 - State Education Assistance. › § 116-209.16A - Information on career and major options.

§ 116-209.16A. Information on career and major options.
(a) Know Before You Go. – The Authority shall provide information on a Web site, under a section entitled "Know Before You Go," to students and parents to assist in selection of major and career options as provided in this section. The information shall be updated annually.
(b) Career Options. – The Authority shall, as data is available, provide information on projected employment needs in the labor economy and associated salary ranges for those areas of employment, college majors which may fulfill those needs, and institutions of higher education that may provide those majors. The Authority may use existing sources of public information, such as the employment projections produced by the federal Department of Labor, Bureau of Labor Statistics, to develop this information.
(c) Major Options. – The Authority shall, as data is available, provide information based on aggregate data for outcomes of public and private institutions of higher education in North Carolina. Outcome information for each public and private institution of higher education shall include, but is not limited to, the following:
(1) Completion rates within the expected number of semesters for the degree sought.
(2) Transfer rates of students to other institutions.
(3) Percentage of students receiving financial aid, by type of aid.
(4) Average and median amount of loan debt upon student graduation, by major.
(5) Average and median salary, by major.
(6) Percentage of graduates employed within six months of graduation, by major.
(7) Percentage of graduates enrolled in graduate school within six months of graduation, by major.
(d) Public and Private Institutions of Higher Education. – For the purposes of this section, "public institutions of higher education" shall include the constituent institutions of The University of North Carolina and the community colleges under the jurisdiction of the State Board of Community Colleges and "private institutions of higher education" shall include postsecondary institutions that award postsecondary degrees, as defined in G.S. 116-15(a2)(1). (2016-57, s. 1.)
2023 North Carolina General Statutes › Chapter 116 - Higher Education › Article 23 - State Education Assistance. › § 116-209.17 - Establishment of student assistance program.

§ 116-209.17. Establishment of student assistance program.
The Authority is authorized, in addition to all other powers and duties vested or imposed under this Article, to establish and administer a statewide student assistance program for the purpose of removing, insofar as may be possible, the financial barriers to education beyond the high school level for eligible needy students at public or private institutions in this State and, with respect to loans, public, and private institutions located elsewhere. This objective shall be accomplished, consistent with Federal law or regulation, through a comprehensive program under which the financial ability of each student and of his family, under standards prescribed by the Authority, is measured against the reasonable costs, as determined by the Authority, of the educational program which the student proposes to pursue. Needs of students for financial assistance shall, to the extent of the availability of funds from federal, State, institutional or other sources, be met through work-study programs, loans, grants and out-of-term employment, or a combination of these forms of assistance. With respect to grants made pursuant to this Article, no student is eligible to receive benefits under this student assistance program for a total of more than 45 months of full-time, post-high school level education. (1971, c. 392, s. 11; 1979, c. 165, s. 8; 1987, c. 227, s. 7.)
2023 North Carolina General Statutes › Chapter 116 - Higher Education › Article 23 - State Education Assistance. › § 116-209.18 - Powers of Authority to administer student assistance program.

§ 116-209.18. Powers of Authority to administer student assistance program.
In order to accomplish the purposes of this Article the Authority is authorized:
(1) To receive from the general fund or other sources such sums as the General Assembly may authorize from time to time for such purposes, and to receive from any other donor, public or private, such sums as may be made available, and to cause such sums to be disbursed for the purposes for which they have been provided;
(2) To establish such criteria as the Authority shall deem necessary or desirable for determining the need of students for grants under this Article, as opposed to other forms of financial assistance, and for deciding who shall receive grants;
(3) To prescribe the form and to regulate the submission of applications for assistance and to prescribe the procedures for considering and approving such applications;
(4) To provide for the making of, and to make, grants under this Article under such terms and conditions as the Authority shall deem advisable;
(5) To encourage educational institutions to increase the resources available for financial assistance; to prescribe such formulas for institutional maintenance of effort as the Authority may determine to be consistent with the purposes of this Article;
(6) To provide by contract for the administration of all or any portion of the student assistance program by nonprofit organizations or corporations, pursuant to regulations and criteria established by the Authority;
(7) To serve, on designation by the Governor, or as may otherwise be provided by federal law, as the State agency to administer such statewide programs of student assistance as shall be established from time to time under federal law; and
(8) To have all other powers and authority necessary to carry out the purposes of the student assistance program, including, without limitation, all the powers given to the Authority by G.S. 116-204 and by other provisions of the General Statutes. (1971, c. 392, s. 11.)
2023 North Carolina General Statutes › Chapter 116 - Higher Education › Article 23 - State Education Assistance. › § 116-209.19A - Limit semesters eligible for need-based grants and scholarships.

§ 116-209.19A. Limit semesters eligible for need-based grants and scholarships.
The Authority administers the following need-based grant and scholarship programs: the North Carolina Need-Based Scholarship for Public Colleges and Universities and Need-Based Scholarships for Students Attending Private Institutions of Higher Education. G.S. 116-209.82 and G.S. 116-281.1 limit the number of semesters that a student may receive a grant or scholarship from these programs and also provide the circumstances in which a waiver to those limits may be granted by the appropriate postsecondary institution. The Authority shall enforce these limitations in administering these programs so that unless a waiver is granted by the appropriate postsecondary institution, no student shall receive a grant or scholarship from any of those programs or any combination of those financial aid programs while pursuing a degree, diploma, or certificate for more than any of the following time periods: (i) 10 full-time academic semesters or its equivalent if enrolled part-time or (ii) 12 full-time academic semesters or its equivalent if the student is enrolled in a program officially designated as a five-year degree program.
A postsecondary institution that grants a waiver under G.S. 116-209.82 or G.S. 116-281.1 shall certify the granting of the waiver in a manner acceptable to the Authority and shall also maintain documentation substantiating the reason for the waiver. (2013-360, s. 11.15(g); 2021-180, s. 8A.2(f).)
2023 North Carolina General Statutes › Chapter 116 - Higher Education › Article 23 - State Education Assistance. › § 116-209.22 - Constitutional construction.

§ 116-209.22. Constitutional construction.
The provisions of this Article are severable, and if any of its provisions shall be held unconstitutional by any court of competent jurisdiction, the decision of such court shall not affect or impair any of the remaining provisions. (1971, c. 392, s. 11.)
2023 North Carolina General Statutes › Chapter 116 - Higher Education › Article 23 - State Education Assistance. › § 116-209.23 - Inconsistent laws inapplicable.

§ 116-209.23. Inconsistent laws inapplicable.
Insofar as the provisions of this Article are inconsistent with the provisions of any general or special laws, or parts thereof, the provisions of this Article shall be controlling, except that no provision of the 1971 amendments to this Article shall apply to scholarships for children of war veterans as set forth in Part 2 of Article 14 of Chapter 143B of the General Statutes, as amended. (1971, c. 392, s. 11; 2015-241, s. 24.1(s); 2015-268, s. 7.3(a).)
2023 North Carolina General Statutes › Chapter 116 - Higher Education › Article 23 - State Education Assistance. › § 116-209.24 - Parental loans.

§ 116-209.24. Parental loans.
(a) Policy. – The General Assembly of North Carolina hereby finds and declares that the making and insuring of loans to the eligible parents of students is fully consistent with and furthers the long established policy of the State to encourage, promote and assist education as more fully set forth in G.S. 116-201(a).
(b) Definitions. – As used in this section, the following terms shall have the following meanings:
(1) "Obligations", "student obligations", or "student loan obligations" as defined under G.S. 116-201(b)(7) includes, unless the context indicates a contrary intent, parental obligations.
(2) "Parent" means a student's mother, father, adoptive parent, or legal guardian of the student if such guardian is required by court order to use his or her own financial resources to support that student.
(3) "Parental loans" means loans made or guaranteed by the Authority to a parent of an eligible student.
(4) "Parental obligations" means obligations evidencing loans made pursuant to subsection (c) of this section.
(5) "Student loans" includes, unless the context indicates a contrary intent, parental loans.
(c) Parental Assistance. – The Authority is authorized to develop and administer programs and perform all functions necessary or convenient to promote and facilitate the making and insuring of loans to parents of students in order to facilitate the vocational and college education of such students who are enrolled or to be enrolled in eligible institutions. The Authority is also authorized to provide such other services and loan assistance to parents of students as the Authority shall deem necessary or desirable for carrying out the purpose of this section and for qualifying for loans, grants, insurance, and other benefits and assistance under any program of the United States now or hereafter authorized fostering loans to eligible parents of students.
(d) Authorization to Buy and Sell Parental Obligations. – The Authority is hereby authorized and empowered to buy and sell parental obligations.
(e) Authorization to Issue Bonds. – The Authority is hereby authorized to provide for the issuance, at one time or from time to time, of bonds or revenue bonds, as such terms are defined in G.S. 116-201(4), in conformity with provisions of this section. (1981, c. 794, s. 1; 1987, c. 227, s. 9.)
2023 North Carolina General Statutes › Chapter 116 - Higher Education › Article 23 - State Education Assistance. › § 116-209.27 - Administration of scholarships previously awarded by Teaching Fellows Program.

§ 116-209.27. Administration of scholarships previously awarded by Teaching Fellows Program.
(a) The Authority shall, as of March 1, 2015, administer all outstanding scholarship loans previously awarded by the former North Carolina Teaching Fellows Commission and subject to repayment under the former Teaching Fellows Program administered pursuant to Part 2 of Article 24C of Chapter 115C of the General Statutes.
(b) Scholarship loans previously awarded by the North Carolina Teaching Fellows Commission by notes payable to the Commission shall be deemed payable to the Authority, as the successor in interest to the North Carolina Teaching Fellows Commission, by the same terms stated in the note.
(c) All funds received by the Authority in association with its administration of the Teaching Fellows Program, including all funds received as repayment of scholarship loans and all interest earned on these funds, shall be deposited into the Forgivable Education Loans for Service Fund established in G.S. 116-209.45. (2014-100, s. 11.10(b); 2017-57, s. 10A.3(g).)
2023 North Carolina General Statutes › Chapter 116 - Higher Education › Article 23 - State Education Assistance. › § 116-209.28 - Administration of scholarships previously awarded by the Principal Fellows Program.

§ 116-209.28. Administration of scholarships previously awarded by the Principal Fellows Program.
(a) The Authority shall, as of July 1, 2021, administer all outstanding scholarship loans previously awarded by the former North Carolina Principal Fellows Commission and subject to repayment under the former Principal Fellows Program administered pursuant to Article 5C of this Chapter.
(b) All funds received by the Authority in association with its administration of the Principal Fellows Program, including all funds received as repayment of scholarship loans and all interest earned on these funds, shall be deposited into the North Carolina Principal Fellows and TP3 Trust Fund established in G.S. 116-74.41B. (2019-60, s. 1(v).)
2023 North Carolina General Statutes › Chapter 116 - Higher Education › Article 23 - State Education Assistance. › §§ 116-209.50. Recodified as G.S. § 127A-190, effective November 18, 2021.

§ 116-209.50. Recodified as G.S. § 127A-190, effective November 18, 2021. (1975, c. 917, s. 2; 2010-31, s. 17.3(b); recodified as N.C. Gen. Stat. § 127A-190 by 2021-180, s. 19E.1(b).)
2023 North Carolina General Statutes › Chapter 116 - Higher Education › Article 23 - State Education Assistance. › §§ 116-209.51. Recodified as G.S. § 127A-191, effective November 18, 2021.

§ 116-209.51. Recodified as G.S. § 127A-191, effective November 18, 2021. (1975, c. 917, s. 3; 2009-281, s. 1; 2010-31, s. 17.3(b); 2011-183, s. 85; recodified as N.C. Gen. Stat. § 127A-191 by 2021-180, s. 19E.1(b).)
2023 North Carolina General Statutes › Chapter 116 - Higher Education › Article 23 - State Education Assistance. › §§ 116-209.52. Recodified as G.S. § 127A-192, effective November 18, 2021.

§ 116-209.52. Recodified as G.S. § 127A-192, effective November 18, 2021. (1975, c. 917, s. 4; 1977, c. 70, s. 2; c. 228, s. 1; 1987, c. 564, s. 24; 2008-94, s. 2; 2010-31, s. 17.3(b), (c); 2015-264, s. 66(a); recodified as N.C. Gen. Stat. § 127A-192 by 2021-180, s. 19E.1(b).)
2023 North Carolina General Statutes › Chapter 116 - Higher Education › Article 23 - State Education Assistance. › §§ 116-209.53. Recodified as G.S. § 127A-193, effective November 18, 2021.

§ 116-209.53. Recodified as G.S. § 127A-193, effective November 18, 2021. (1975, c. 917, s. 5; 1977, c. 228, s. 2; 1983 (Reg. Sess., 1984), c. 1034, ss. 99, 100; 1993 (Reg. Sess., 1994), c. 769, s. 22.3; 2000-67, s. 18; 2005-444, s. 1; 2008-94, s. 3; 2010-31, s. 17.3(b), (c); recodified as N.C. Gen. Stat. § 127A-193 by 2021-180, s. 19E.1(b).)
2023 North Carolina General Statutes › Chapter 116 - Higher Education › Article 23 - State Education Assistance. › §§ 116-209.54. Recodified as G.S. § 127A-194, effective November 18, 2021.

§ 116-209.54. Recodified as G.S. § 127A-194, effective November 18, 2021. (1975, c. 917, s. 6; 1977, c. 228, ss. 3, 4; 2008-94, s. 4; 2010-31, s. 17.3(b), (c); 2011-183, s. 86(a), (b); 2015-264, s. 66(b); 2015-298, s. 1; 2017-155, s. 3; recodified as N.C. Gen. Stat. § 127A-194 by 2021-180, s. 19E.1(b).)
2023 North Carolina General Statutes › Chapter 116 - Higher Education › Article 23 - State Education Assistance. › §§ 116-209.55. Recodified as G.S. § 127A-195, effective November 18, 2021.

§ 116-209.55. Recodified as G.S. § 127A-195, effective November 18, 2021. (1975, c. 917, s. 7; 1977, c. 70, s. 2; 2005-444, ss. 2, 3; 2008-94, s. 1; 2010-31, s. 17.3(b), (c); 2011-183, s. 87; 2015-264, s. 66(c); recodified as N.C. Gen. Stat. § 127A-195 by 2021-180, s. 19E.1(b).)
2023 North Carolina General Statutes › Chapter 116 - Higher Education › Article 23 - State Education Assistance. › § 116-209.60 - Definitions.

§ 116-209.60. Definitions.
The following definitions apply in this Part:
(1) Commission. – The North Carolina Teaching Fellows Commission.
(2) Director. – The Director of the North Carolina Teaching Fellows Program.
(3) Forgivable loan. – A forgivable loan made under the Program.
(4) Program. – The North Carolina Teaching Fellows Program.
(5) Public school. – An elementary or secondary school located in North Carolina that is governed by a local board of education, charter school board of directors, regional school board of directors, or University of North Carolina laboratory school board of trustees.
(6) STEM. – Science, technology, engineering, and mathematics.
(7) Trust Fund. – The North Carolina Teaching Fellows Program Trust Fund. (2017-57, s. 10A.3(a).)
2023 North Carolina General Statutes › Chapter 116 - Higher Education › Article 23 - State Education Assistance. › § 116-209.63 - Terms of forgivable loans; receipt and disbursement of funds.

§ 116-209.63. Terms of forgivable loans; receipt and disbursement of funds.
(a) Notes. – All forgivable loans shall be evidenced by notes made payable to the Authority that bear interest at a rate not to exceed ten percent (10%) per year as set by the Authority and beginning on the first day of September after the completion of the program leading to teacher licensure or 90 days after graduation, whichever is later. If a forgivable loan is terminated, the note shall be made payable to the Authority 90 days after termination of the forgivable loan. The forgivable loan may be terminated upon the recipient's withdrawal from the Program or by the recipient's failure to meet the standards set by the Commission.
(b) Forgiveness. – The Authority shall forgive the loan and any interest accrued on the loan if, within 10 years after graduation from a program leading to teacher licensure, exclusive of any authorized deferment for extenuating circumstances, the recipient serves as a teacher in a STEM or special education licensure area, as provided in G.S. 116-209.62(h), for every year the teacher was awarded the forgivable loan, in any combination of the following:
(1) One year at a North Carolina public school identified as low-performing under G.S. 115C-105.37 at the time the teacher accepts employment at the school or, if the teacher changes employment during this period, at another school identified as low-performing.
(2) Two years at a North Carolina public school not identified as low-performing under G.S. 115C-105.37.
The Authority shall also forgive the loan if it finds that it is impossible for the recipient to work for up to eight years, within 10 years after completion of the program leading to teacher licensure, at a North Carolina public school because of the death or permanent disability of the recipient. If the recipient repays the forgivable loan by cash payments, all indebtedness shall be repaid within 10 years after completion of the program leading to teacher licensure supported by the forgivable loan. If the recipient completes a program leading to teacher licensure, payment of principal and interest shall begin no later than the first day of September after the completion of the program. Should a recipient present extenuating circumstances, the Authority may extend the period to repay the loan in cash to no more than a total of 12 years. (2017-57, s. 10A.3(a); 2018-5, s. 10A.2(b).)
2023 North Carolina General Statutes › Chapter 116 - Higher Education › Article 23 - State Education Assistance. › § 116-209.80 - Definitions.

§ 116-209.80. Definitions.
The following definitions apply to this Part:
(1) Eligible postsecondary institution. – A school that is:
a. A constituent institution of The University of North Carolina as defined in G.S. 116-2(4).
b. A community college as defined in G.S. 115D-2(2).
(2) Matriculated status. – Being recognized as a student in a defined program of study leading to a degree, diploma, or certificate at an eligible postsecondary institution.
(3) Program. – The North Carolina Need-Based Scholarship Program for Public Colleges and Universities.
(4) Reserve Fund. – Scholarship Reserve Fund for Public Colleges and Universities.
(5) Scholarship. – A scholarship for education awarded under this Part.
(6) Title IV. – Title IV of the Higher Education Act of 1965, as amended, 20 U.S.C. § 1070, et seq. (2021-180, s. 8A.2(a).)
2023 North Carolina General Statutes › Chapter 116 - Higher Education › Article 23 - State Education Assistance. › § 116-209.81 - Eligibility requirements for a scholarship.

§ 116-209.81. Eligibility requirements for a scholarship.
(a) In order to be eligible to receive a scholarship under this Part, a student seeking a degree, diploma, or certificate at an eligible postsecondary institution must meet all of the following requirements:
(1) Qualify as a resident for tuition purposes under the criteria set forth in G.S. 116-143.1 and in accordance with the coordinated and centralized residency determination process administered by the Authority.
(2) Meet enrollment standards by being admitted, enrolled, and classified as an undergraduate student in a matriculated status at an eligible postsecondary institution. The President of The University of North Carolina and the President of the North Carolina Community College System may jointly agree to additional enrollment standards for the Program.
(3) Submit a Free Application for Federal Student Aid (FAFSA) and demonstrate need according to federal methodology in Title IV of the Higher Education Act of 1965, as amended, 20 U.S.C. § 1070, et seq.
(b) In addition to the criteria set forth in subsection (a) of this section, in order for a student to continue to be eligible for a scholarship for the student's second and subsequent academic years, the student must meet achievement standards by maintaining satisfactory academic progress in a course of study in accordance with the standards and practices used for federal Title IV programs by the eligible postsecondary institution in which the student is enrolled. (2021-180, s. 8A.2(a).)
2023 North Carolina General Statutes › Chapter 116 - Higher Education › Article 23 - State Education Assistance. › § 116-209.82 - Semester limitation on eligibility for scholarship.

§ 116-209.82. Semester limitation on eligibility for scholarship.
(a) Except as otherwise provided by subsection (c) of this section, a student matriculating at a constituent institution of The University of North Carolina shall not receive a scholarship for more than 10 full-time academic semesters, or its equivalent if enrolled part-time, unless the student is enrolled in a program officially designated by the Board of Governors of The University of North Carolina as a five-year degree program. If a student is enrolled in such a five-year degree program, then the student shall not receive a scholarship for more than 12 full-time academic semesters or the equivalent if enrolled part-time.
(b) Except as otherwise provided by subsection (c) of this section, a student shall not receive a scholarship for more than six full-time academic semesters, or the equivalent if enrolled part-time, while matriculating at a community college.
(c) Upon application by a student, the applicable eligible postsecondary institution may grant a waiver to the student who may then receive a scholarship for the equivalent of one additional full-time academic semester if the student demonstrates that any of the following have substantially disrupted or interrupted the student's pursuit of a degree, diploma, or certificate: (i) a military service obligation, (ii) serious medical debilitation, (iii) a short-term or long-term disability, or (iv) other extraordinary hardship. The Board of Governors of The University of North Carolina or the State Board of Community Colleges, as appropriate, shall establish policies and procedures to implement the waiver provided by this subsection. (2021-180, s. 8A.2(a).)
2023 North Carolina General Statutes › Chapter 116 - Higher Education › Article 23 - State Education Assistance. › § 116-209.83 - Scholarship amounts; adjustment of scholarship amounts.

§ 116-209.83. Scholarship amounts; adjustment of scholarship amounts.
(a) Scholarship Amounts. – Subject to the availability of funds in the Scholarship Reserve Fund for Public Colleges and Universities, as provided in G.S. 116-209.85, a scholarship awarded under this Part to a student at an eligible postsecondary institution shall be based upon a consolidated payment schedule established jointly by the President of The University of North Carolina and the President of the North Carolina Community College System, in consultation with the Authority. The payment schedule shall clearly define award amounts by type of eligible postsecondary institution and student financial need as defined by federal methodology. The Authority shall publish the payment schedule for the Program in an easily accessible and understandable format. Once published, a payment schedule shall remain in effect unless otherwise agreed by the President of The University of North Carolina and the President of the North Carolina Community College System.
(b) Availability of Scholarships. – Subject to the payment schedule described in subsection (a) of this section, the Authority shall have the power to determine the actual scholarship amounts disbursed to students in any given year based on the amount of funds available in the Scholarship Reserve Fund for Public Colleges and Universities created pursuant to G.S. 116-209.85. If the funds available are not sufficient to fully fund the scholarships as set forth in the payment schedule established pursuant to subsection (a) of this section, the Authority, in consultation with the President of The University of North Carolina and the President of the North Carolina Community College System, shall adjust the distribution of the funds as necessary. (2021-180, s. 8A.2(a).)
2023 North Carolina General Statutes › Chapter 116 - Higher Education › Article 23 - State Education Assistance. › § 116-209.84 - Scholarship administration; reporting requirements.

§ 116-209.84. Scholarship administration; reporting requirements.
(a) The scholarships provided for in this Part shall be administered by the Authority under rules adopted by the Authority in accordance with the provisions of this Part.
(b) Notwithstanding any other provision of law to the contrary, the Authority shall conduct periodic evaluations of expenditures under the Program administered by the Authority to determine if allocations are utilized to ensure access to eligible postsecondary institutions and to meet the goals of respective programs. The authority may make recommendations of the redistribution of funds to the President of The University of North Carolina and the President of the North Carolina Community College System, who then may jointly authorize redistribution of funds for a particular fiscal year.
(c) The Authority shall report no later than December 1, 2024, and annually thereafter to the Joint Legislative Education Oversight Committee. The report shall contain, for the previous academic year, the dollar amount of awards disbursed, the number of eligible students receiving funds, and a breakdown of the eligible postsecondary institutions that received the funds.
(d) Scholarship funds unexpended shall remain available for future scholarships to be awarded under this Part. (2021-180, s. 8A.2(a).)
2023 North Carolina General Statutes › Chapter 116 - Higher Education › Article 23 - State Education Assistance. › § 116-209.90 - Tuition grants for graduates to attend a constituent institution.

§ 116-209.90. Tuition grants for graduates to attend a constituent institution.
(a) Within the funds available, a high school graduate from the North Carolina School of Science and Mathematics (NCSSM) or the University of North Carolina School of the Arts (UNCSA) in each school year who meets the following conditions shall be eligible for a tuition grant awarded under this Part:
(1) Is a resident for tuition purposes under the criteria set forth in G.S. 116-143.1 and in accordance with the coordinated and centralized residency determination process administered by the Authority.
(2) Enrolls as a full-time student in a constituent institution of The University of North Carolina in the next academic year after graduation. The Authority shall have the discretion to postpone this requirement for up to one academic year after graduation if the student is able to demonstrate that any of the following have substantially disrupted or interrupted the student's ability to enroll as a full-time student:
a. A military service obligation.
b. Serious medical debilitation.
c. A short-term or long-term disability.
d. Other extraordinary hardship.
(b) Students who receive initial tuition grants as a cohort of a high school graduating class of NCSSM or UNCSA shall also be eligible to apply for tuition grants for subsequent academic years for up to a total of four academic years, provided that tuition grants are only used for undergraduate tuition.
(b1) A student must be continuously enrolled in an undergraduate program at a constituent institution of The University of North Carolina after the award of the initial tuition grant to be eligible for tuition grants in subsequent academic years. The Authority shall have the discretion to waive this requirement if the student is able to demonstrate that any of the following have substantially disrupted or interrupted the student's pursuit of a degree:
(1) A military service obligation.
(2) Serious medical debilitation.
(3) A short-term or long-term disability.
(4) Other extraordinary hardship.
(c) The amount of the tuition grant to each graduate shall be determined and distributed as provided in G.S. 116-209.91. (2021-180, s. 8A.1(a); 2022-74, s. 8A.2(a); 2023-102, s. 3(a).)