Adds new Article 19, National Guard Student Loan Repayment Program, to GS Chapter 127A, providing as follows. Establishes the National Guard Student Loan Repayment Program (Program) to provide student loan repayment awards to active members of the North Carolina National Guard. Gives the North Carolina National Guard Adjutant General supervision and administration of the Program, and sets out Program duties they, or their designee, must carry out. Sets out minimum Program guidelines, which must include the following: (1) prohibits an award recipient from receiving an award in excess of the amount of their student loan debt at the time of the award; (2) caps awards at $50,000 for a term of service (defined as no shorter than three years), except allows recipients serving a term of service exceeding three years to receive up to an additional $10,000 for each additional year of service beyond the first three years; (3) requires recipients, before receiving an award, to submit a signed and notarized agreement to repay to the National Guard Student Loan Repayment Program Fund (Fund) award monies for every month of the term of service the award recipient failed to serve as an active member of the North Carolina National Guard (only applies to an award recipient whose term of service was terminated voluntarily). Sets out provisions for calculating the repayment amount.
Establishes the Fund as a non-reverting special revenue fund consisting of General Fund appropriations, gifts, donations, grants, devises, fees, and monies contributed by State and non-State entities for the operation, maintenance, and expansion of the Program, and any other revenues specifically allocated to the Fund by an act of the NCGA. Limits the use of Fund revenue to costs associated with the operations, maintenance, and expansion of the Program.
Appropriates $25,540,900 for 2025-26 from the General Fund to the Fund. Appropriates $180,000 in recurring funds for 2025-26 from the General Fund to the North Carolina National Guard to hire at least two full-time communications professionals.
Effective July 1, 2025.