NC S435

Adds nonprofit virtual postsecondary institutions as eligible institutions under North Carolina's need-based scholarship program for students attending private institutions of higher education.

Nonprofit virtual institutions must meet three requirements: accreditation by a regional accrediting agency recognized by the U.S. Department of Education, establishment and continuous maintenance of a physical campus or location of operation in North Carolina, and maintenance of a governing body or advisory board in the State with oversight of operations.

Institutions must not be owned or operated by the State of North Carolina, any state agency, political subdivision, or any combination thereof.

Act becomes effective July 1, 2019, and applies to the award of need-based scholarships on or after that date.