NC S524

Establishes tuition grant program for North Carolina School of Science and Mathematics (NCSSM) graduates who enroll full-time at eligible institutions beginning with 2019-2020 school year, with grants available for up to four academic years.

Eligible institutions include constituent institutions of University of North Carolina or private institutions of higher education in North Carolina; grants cover full tuition at UNC schools or up to highest UNC undergraduate resident tuition rate at private institutions.

Grants may be reduced if student receives other scholarships or grants to ensure total aid does not exceed cost of attendance; if insufficient funds exist, eligible students receive pro rata shares.

Authority administers program with application process, certification requirements, and disbursement procedures; students must carry minimum academic load by tenth classroom day or institution must refund full grant amount.

Appropriates $2,950,000 for 2019-2020 fiscal year and $1,850,000 for 2020-2021 fiscal year ($4,800,000 total); establishes North Carolina Tuition Grant Fund Reserve to hold all appropriated funds, returned grants, and interest earned, with no more than 5% used for administrative costs.