NC S886

Establishes tuition grants of $2,500 per semester for high school graduates with a minimum 3.2 GPA who enroll full-time at UNC constituent institutions in the year after graduation.

Requires students to be North Carolina residents for tuition purposes and allows them to receive grants for up to five academic semesters in an undergraduate program if they remain continuously enrolled.

Permits the Authority to waive continuous enrollment requirements if students face military service obligations, serious medical debilitation, disability, or other extraordinary hardship.

Appropriates $100,000,000 in recurring funds for fiscal year 2022-2023, with intent to appropriate an additional $100,000,000 for 2023-2024 and $50,000,000 for 2024-2025.

Becomes effective July 1, 2022, applying to high school graduates from the 2021-2022 school year forward.