NC S854

Establishes the Community College Promise Scholarship Program administered by the State Education Assistance Authority to award scholarships covering up to four academic semesters at North Carolina community colleges.

Eligible students must graduate with at least a 2.0 unweighted GPA from a North Carolina public, nonpublic, or home school; qualify as state residents for tuition purposes; and gain admission to a community college curriculum program.

Scholarships are renewable annually if students maintain a cumulative 2.3 GPA and demonstrate satisfactory academic progress, with scholarship amounts reduced by other state or federal grants received.

Appropriates $300,000 in nonrecurring funds for administrative costs, $4,007,550 in recurring funds to hire up to 100 higher education advisers in secondary schools, and $161,300,000 in recurring funds for scholarships beginning with the 2023-2024 academic year.

Requires annual reporting to the Joint Legislative Education Oversight Committee beginning November 1, 2023, on the number of applicants and recipients, student demographics, geographic location, and funds expended.