S873 Summary: Access to Affordable College Education Act

• Establishes a fixed tuition and fee payment program for incoming freshmen and transfer undergraduate students at UNC constituent institutions, guaranteeing that tuition and fees remain constant or decrease during their enrollment period (8 semesters for 4-year programs, 10 for 5-year programs), effective Fall 2016.

• Requires student fees to be reduced by 5% beginning Fall 2018 compared to Fall 2016 levels, with future increases capped at 3% per academic year.

• Sets tuition rates at five specified UNC institutions (Elizabeth City State, Fayetteville State, UNC Pembroke, Winston-Salem State, and Western Carolina) at $500 per semester for residents and $2,500 for nonresidents beginning Fall 2018, with authorization for up to $70 million in state budget increases to offset lost revenue.

• Authorizes the Board of Governors to evaluate eliminating or increasing the current 18% cap on out-of-state student admissions at the five specified institutions to improve applications and diversity.

• Establishes the Cheatham-White Scholarships program at North Carolina A&T State University and North Carolina Central University, offering up to 100 fully funded four-year merit scholarships annually (40 resident/10 nonresident per institution) covering tuition, fees, housing, meals, textbooks, laptops, and four summers of enrichment opportunities.