NC S804

Expands the North Carolina Need-Based Scholarship program by modifying eligibility to include students whose household adjusted gross income is $100,000 or less, in addition to those demonstrating federal financial need.

Establishes minimum scholarship award amounts of $4,000 per year for community college students and $6,000 per year for University of North Carolina constituent institution students receiving both Program and Pell Grant funds.

Appropriates $124,000,000 in recurring General Fund money for the 2024-2025 fiscal year to the State Education Assistance Authority to implement the scholarship expansion.

Requires the Board of Governors and State Board of Community Colleges to give priority consideration to all FAFSA applications submitted by June 15, 2024, for the 2024-2025 academic year.

Adds new reporting and awareness requirements, including mandatory annual reports to the Joint Legislative Education Oversight Committee and public awareness campaigns about the Program beginning in 2025-2026.