NC H1052

Expands annual reporting requirements for the State Education Assistance Authority to include total number of loan recipients meeting employment service requirements for loan forgiveness and those electing cash repayment in the Forgivable Education Loans for Service Program, with initial report by December 1, 2022.

Requires the Authority to develop and maintain a record-keeping system to track repayment methods for state-funded educational loans eligible for forgiveness and report implementation progress by January 1, 2021.

Changes the Authority's strategic plan from annual to biennial development and requires annual reports to include data metrics on state-funded financial assistance programs, recipient demographics, and institution enrollment information.

Limits University of North Carolina need-based grant eligibility to 10 full-time semesters for regular degree programs and 12 full-time semesters for five-year programs, with waivers available for military service, medical debilitation, disability, or extraordinary hardship.

Directs the Office of State Budget and Management to develop recommendations for increased transparency in administrative cost reporting for private institution scholarship programs by October 1, 2020.