NC H217

Establishes the Higher Education Savings Grant Pilot Program administered by the State Education Assistance Authority to provide $100 grants plus accrued interest to eligible students enrolling in North Carolina public universities, community colleges, or private postsecondary institutions.

Targets children born between July 1, 2022, and June 30, 2023, in five eligible counties: Duplin, Guilford, Madison, Union, and Wake County.

Creates the Higher Education Savings Trust Fund as a nonreverting trust fund managed by the State Treasurer, with up to 2.5% of annual funds available for administrative costs and program marketing.

Appropriates $2,400,000 in nonrecurring General Fund monies for the 2023-2024 fiscal year to support the program.

Requires the Authority to report to the Joint Legislative Education Oversight Committee by November 1, 2024, and annually thereafter on program participation, award amounts, and recommendations for future appropriations.