NC S108

Establishes a tuition grant program for state residents who graduate from the North Carolina School of Science and Mathematics (NCSSM) and enroll full-time at University of North Carolina constituent institutions.

Eligible students receiving initial grants beginning with the 2020-2021 graduating class may continue receiving grants for up to four total academic years if continuously enrolled, with limited waivers available for military service, medical issues, or extraordinary hardship.

Grant amounts equal the full tuition cost at the enrolled institution, reduced if the student receives other scholarships or grants to prevent exceeding cost of attendance; if insufficient funds exist, eligible students receive pro rata shares.

The North Carolina Tuition Grant Fund Reserve is established to administer appropriated funds, returned grant monies, and earned interest, with administrative costs capped at 5% of annual appropriations.

Appropriates $1,124,950 in nonrecurring funds for fiscal year 2021-2022, $2,249,900 for 2021-2022, and $3,374,850 for 2022-2023 in recurring funds; intends to appropriate $4,499,800 for fiscal year 2023-2024; effective July 1, 2021.