NC H339

Establishes the North Carolina Teaching Fellows Program to recruit and prepare STEM and special education teachers, administered by UNC General Administration in conjunction with the State Education Assistance Authority and a 14-member Commission.

Provides forgivable loans of up to $8,250 per year to qualified students at five selected educator preparation programs, with loan amounts varying by student category (high school seniors up to 4 years, transfer students up to 3 years, career changers up to 2 years).

Loans are forgiven if recipients teach in STEM or special education for every year they received the loan within 10 years of graduation, either one year at a low-performing school or two years at any public school; loans must be repaid in cash within 8-12 years if service requirement is not met.

Appropriates $250,000 in nonrecurring funds for fiscal year 2017-2018 to implement the program and $6,000,000 in recurring funds for fiscal year 2018-2019 for program operations and loan awards.

Requires the Commission to establish selection criteria and identify five institutions by November 15, 2017, make applications available by December 31, 2017, and award initial loans for the 2018-2019 academic year by April 1, 2018.