GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2001
H	1
HOUSE BILL 431

 
 
Short Title:	Financial Assistance for CC Students.	()	
Sponsors:	Representatives Saunders;  Alexander, Boyd-McIntyre, Dockham, Gillespie, Gulley, McLawhorn, Preston, Sherrill, Tolson, Wainwright, and Warren.	
Referred to:	Education.	
March 1, 2001

A BILL TO BE ENTITLED
AN ACT DIRECTING the state board of education to adopt rules and policies regarding THE use of funds for student financial assistance.

The General Assembly of North Carolina enacts:
SECTION 1.  G.S. 115D‑5 is amended by adding a new subsection to read:
"(m)	The State Board of Community Colleges shall adopt rules and policies for the disbursement of funds for need-based student financial assistance. The State Board may allocate up to three hundred fifty thousand dollars ($350,000) of these funds each fiscal year to students who enroll in low-enrollment programs that prepare students for high-demand occupations.
Students must apply for federal Pell Grants or complete FAFSA applications to be eligible for the need-based student financial assistance program, unless the students apply for financial assistance to enroll in low-enrollment programs that prepare students for high-demand occupations. The Community Colleges System shall make these financial assistance funds available to the neediest students who are not eligible for other financial aid programs that fully cover the required educational expenses of these students. The State Board may use some of these funds as short-term loans to students who anticipate receiving the federal HOPE or Lifetime Learning Tax Credits.
State funds for student financial assistance shall not revert at the end of each fiscal year but shall remain available until expended for need-based financial assistance.
The State Board may contract with the State Education Assistance Authority for administration of these financial assistance funds."
SECTION 2.  This act becomes effective July 1, 2001.