Senate Bill 602 Summary

• Establishes the NC Hope Tuition Waiver Program to waive tuition costs for up to two years for graduates of cooperative innovative high schools who earn an associate degree before high school graduation and attend Elizabeth City State University, UNC Pembroke, or Western Carolina University

• Eligible students must graduate from an approved cooperative innovative high school, earn at least an associate degree prior to high school graduation, enroll at one of the three specified universities, and maintain satisfactory academic progress toward a baccalaureate degree

• Tuition waiver cannot exceed the cost of hours required to obtain a baccalaureate degree and is reduced if the student receives other scholarships or grants so total aid does not exceed the cost of attendance

• State shall "buy down" financial obligations incurred by the three universities from both the tuition waiver and the existing NC Promise fixed tuition rates ($500 per semester for residents, $2,500 for nonresidents)

• Becomes effective July 1, 2019, and applies beginning with the 2019-2020 academic year; universities must submit annual reports to legislative committees detailing financial obligations, enrolled students, and fund allocations