NC H785

Directs the State Treasurer, North Carolina State Education Assistance Authority, UNC Board of Governors, and State Board of Community Colleges to jointly establish a task force to study alternative financing options for higher education, such as human capital contracts, as alternatives to conventional loans.

Task force must examine initial start-up costs, timeline for financial solvency, student demographics and income levels, integration with scholarships, and development of standard contracts with income-based repayment terms.

Task force must study potential public-private partnerships among private entities, state, local governments, and institutions of higher education as investors and providers of alternative financing options.

Task force must develop protective measures for students and investors, and design and implement a pilot program to test statewide feasibility of alternative financing options.

State Education Assistance Authority must submit interim report by November 1, 2019, and final report with proposed pilot program by November 1, 2020; Joint Legislative Education Oversight Committee may direct submission of pilot program to 2021 General Assembly for review.