Contains whereas clauses.
Part I.
Expands the qualifying licensure areas under the NC Teaching Fellows Program to include middle grades language arts and social studies, and English, social studies and history for grades 9-12.
Amends GS 116-209.62 as follows. Modifies the use of the Program's Trust Fund, now authorizing up to an additional $600,000 to be used for extracurricular enhancement activities of the Program, such as summer programs and alumni programs, and up to another $500,000 to be used for the Director of the Program to implement recruitment activities required by subsection (d) of the statute, annually. Maintains the current authority to use the greater of $600,000 or 10% of available funds for administrative costs and the salary of the Director and other Program staff (previously, this amount was to also cover expenses of the Teaching Fellows Commission and for the Commission to fund extracurricular activities). Makes technical changes. Now requires the Program to be administered in cooperation with up to 14 institutions of higher education (was, 10) selected by the Commission from both constituent institutions of UNC and private postsecondary institutions operating in the State. 
Makes conforming changes to subsection (g) regarding award of forgivable loans to reflect these changes to institutions eligible under the Program. Increases the forgivable loan award under the Program from $5,000 per semester to $12,000 per semester; maintains existing semester limits based on the individual seeking licensure. Allows the forgivable loans to also be used for room and board. Makes technical and conforming changes. 
Amends GS 116-209.63 to now provide for forgiveness of the loan if it the Authority finds that its impossible for the recipient to work for up to four years (was, eight years), within 10 years after the program leading to teacher licensure, as described.
Part II.
Sets forth the following two additional criterial for the initial selection of the additional four institutions of higher education to be selected by the Commission: (1) two of the additional four selected institutions shall be constituent institutions of The University of North Carolina and two shall be private postsecondary institutions operating in the State and (2) the additional four selected institutions shall reflect a wider statewide geographic diversity than the current participating institutions.
Part III.
Clarifies that SL 2023-134’s changes to the Program includes teachers who are continuing or entering service repayment beginning in the 2024-25 academic year.
Clarifies that SL 2024-1’s changes to GS 116-209.60 (pertaining to the definition of qualifying teacher under the Program) applies to teachers who are continuing or entering service repayment beginning in the 2024-25 academic year.
Part IV.
Appropriates $10 million in recurring funds for 2025-26 from the General Fund to the North Carolina Teaching Fellows Program Trust Fund to revise the Program in accordance with Part I of the act.
Effective July 1, 2025, and applies beginning in the 2025-26 academic year.