NC H917

Establishes the Loan Repayment Assistance Program for Teachers administered by the State Education Assistance Authority to help qualified teachers reduce educational debt through forgivable loans.

Eligible teachers must be licensed in North Carolina and employed full-time in low-performing schools, schools with 70%+ free/reduced lunch eligible students, or STEM and special education subject areas, with a "highly effective" performance rating.

Provides up to $10,000 annually for teachers meeting multiple employment criteria and up to $5,000 for those meeting one criterion, for up to four years each for undergraduate and graduate debt.

Requires four-year employment commitment in qualifying positions following loan receipt; teachers who voluntarily leave must repay funds with interest, but those with death, disability, involuntary termination, or job elimination are forgiven.

Appropriates $5 million for fiscal years 2015-2016 and 2016-2017, with up to 2% annually allowed for program administration; Authority must report to Joint Legislative Education Oversight Committee by December 1, 2016 and annually thereafter.