NC H844

Establishes the North Carolina STEM and Special Education Scholars Program providing forgivable loans to high school seniors committing to teach STEM or special education in North Carolina public schools.

Loan recipients must have a minimum 3.0 grade point average and strong standardized test scores, attend University of North Carolina constituent institutions, and be North Carolina residents.

Loans are $5,000 per year initially, with Authority discretion to increase based on average tuition, fees, and housing/meal costs at eligible institutions; loans are forgiven if recipient teaches 4 years at any North Carolina public school or 3 consecutive years at a low-performing school.

Each eligible institution must establish a STEM and Special Education Scholars Fund with private matching contributions; recipients' home school districts receive priority hiring rights with 6 months to make employment offers.

Appropriates $2.9 million for fiscal year 2015-2016 and $5.4 million for 2016-2017, with funds allocated for loans, program administration, and extracurricular activities for participating students.