2005 North Carolina Code - General Statutes Article 35A - College Scholarships.

Article 35A.

College Scholarships.

§ 115C‑499.1.� Definitions.

The following definitions apply to this Article:

(1)������ Academic year. � A period of time in which a student is expected to complete the equivalent of at least two semesters' or three quarters' academic work.

(2)������ Authority. � The State Education Assistance Authority created by Article 23 of Chapter 116 of the General Statutes.

(3)������ Eligible postsecondary institution. � A school that is:

a.�������� A constituent institution of The University of North Carolina as defined in G.S. 116‑2(4);

b.�������� A community college as defined in G.S. 115D‑2(2); or

c.�������� A nonpublic postsecondary institution as defined in G.S. 116‑22(1) or 116‑43.5(a)(1).

(4)������ Matriculated status. � Being recognized as a student in a defined program of study leading to a degree, diploma, or certificate at an eligible postsecondary institution.

(5)������ Scholarship. � A scholarship for education awarded under this Article.

(6)������ Title IV. � Title IV of the Higher Education Act of 1965, as amended, 20 U.S.C. § 1070, et seq. (2005‑344, s. 2.)

 

§ 115C‑499.2.� Eligibility requirements for a scholarship.

In order to be eligible to receive a scholarship under this Article, a student seeking a degree, diploma, or certificate at an eligible postsecondary institution must meet all of the following requirements:

(1)������ Only needy North Carolina students are eligible to receive scholarships. For purposes of this subsection, "needy North Carolina students" are those eligible students whose expected family contribution under the federal methodology does not exceed five thousand dollars ($5,000).

(2)������ The student must meet all other eligibility requirements for the federal Pell Grant, with the exception of the expected family contribution.

(3)������ The student must qualify as a legal resident of North Carolina and as a resident for tuition purposes in accordance with definitions of residency that may from time to time be adopted by the Board of Governors and published in the residency manual of the Board of Governors.

(4)������ The student must meet enrollment standards by being admitted, enrolled, and classified as an undergraduate student in a matriculated status at an eligible postsecondary institution.

(5)������ In order to continue to be eligible for a scholarship for the student's second and subsequent academic years, the student must meet achievement standards by maintaining satisfactory academic progress in a course of study in accordance with the standards and practices used for federal Title IV programs by the eligible postsecondary institution in which the student is enrolled.

(6)������ A student may not receive a scholarship under this Article for more than four full academic years. (2005‑344, s. 2.)

 

§ 115C‑499.3.� Scholarship amounts; amounts dependent on net income available.

(a)������ Subject to the amount of net income available [under] G.S. 18C‑164(b)(2), a scholarship awarded under this Article to a student at an eligible postsecondary institution shall be based upon the enrollment status and expected family contribution of the student and shall not exceed four thousand dollars ($4,000) per academic year, including any federal Pell Grant, to be used for the costs of attendance as defined for federal Title IV programs.

(b)������ Subject to the maximum amounts provided in this section, the Authority shall have the power to determine the actual scholarship amounts disbursed to students in any given year based on the amount of net income available under Chapter 18C of the General Statutes. If the net income available is not sufficient to fully fund the scholarships to the maximum amount, all scholarships shall be reduced equally, to the extent practicable, so that every eligible applicant shall receive a proportionate scholarship amount.

(c)������ The minimum award of a scholarship under this Article shall be one hundred dollars ($100.00). (2005‑344, s. 2; 2005‑276, s. 31.1(v).)

 

§ 115C‑499.4.� Scholarship administration; reporting requirements.

(a)������ The scholarships provided for in this Article shall be administered by the Authority under rules adopted by the Authority in accordance with the provisions of this Article.

(b)������ The Authority shall report no later than June 1, 2008, and annually thereafter to the Joint Legislative Education Oversight Committee. The report shall contain, for the previous academic year, the amount of scholarship and grant money disbursed, the number of students eligible for the funds, the number of eligible students receiving the funds, and a breakdown of the eligible postsecondary institutions that received the funds.

(c)������ The Authority may use up to one and one‑half percent (1.5%) of the funds transferred in accordance with Chapter 18C of the General Statutes for administrative purposes.

(d)������ Scholarship funds unexpended shall remain available for future scholarships to be awarded under this Article. (2005‑344, s. 2; 2005‑276, s. 31.1(v1).)