(a)A scholarship granted pursuant to this Part shall consist of the following benefits in either a State or private educational institution:
(1)With respect to State educational institutions, unless expressly limited elsewhere in this Part, a scholarship shall consist of:
a. Tuition at the State educational institution.
b. A standard board allowance.
c. A standard room allowance.
d. Matriculation and other institutional fees required to be paid as a condition to remaining in the institution and pursuing the course of study selected.
e. For Class I-A, I-B, and IV scholarships, as defined by G.S. 143B-1226(b), the cost of short-term workforce training courses leading to industry credentials.
(2)With respect to private educational institutions, a scholarship shall consist of a monetary all
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(a) A scholarship granted pursuant to this Part shall consist of the following benefits in either a State or private educational institution:
(1) With respect to State educational institutions, unless expressly limited elsewhere in this Part, a scholarship shall consist of:
a. Tuition at the State educational institution.
b. A standard board allowance.
c. A standard room allowance.
d. Matriculation and other institutional fees required to be paid as a condition to remaining in the institution and pursuing the course of study selected.
e. For Class I-A, I-B, and IV scholarships, as defined by G.S. 143B-1226(b), the cost of short-term workforce training courses leading to industry credentials.
(2) With respect to private educational institutions, a scholarship shall consist of a monetary allowance as prescribed in G.S. 143B-1227(d).
(3) Only one scholarship may be granted pursuant to this Part with respect to each child and it shall not extend for a longer period than four academic years, which years, however, need not be consecutive.
(4) No educational assistance shall be afforded a child under this Part after the end of an eight-year period beginning on the date the scholarship is first awarded. Whenever a child is enrolled in an educational institution and the period of entitlement ends while enrolled in a term, quarter or semester, such period shall be extended to the end of such term, quarter or semester, but not beyond the entitlement limitation of four academic years.
(5) A scholarship awarded to a student under this section shall not exceed the cost of attendance at the State educational institution at which the student is enrolled. If a student, who is eligible for a scholarship under this section, also receives a scholarship or other grant covering the cost of attendance at the State educational institution for which the scholarship is awarded, then the amount of the scholarship shall be reduced by an appropriate amount determined by the State educational institution at which the student is enrolled. The scholarship shall be reduced so that the sum of all grants and scholarship aid covering the cost of attendance received by the student, including the scholarship under this section, shall not exceed the cost of attendance for the State educational institution at which the student is enrolled.
(6) A student who has been awarded a scholarship under this section shall maintain a cumulative grade point average of 2.0 throughout the four academic years for which the student is eligible for a scholarship under this section.
(b) The Veterans' Affairs Commission shall select recipients for scholarships and notify the Authority of the recipients for the disbursement of scholarships in accordance with the provisions of G.S. 143B-1227. When notifying the Authority of the recipients, the Veterans' Affairs Commission shall indicate the recipients that qualify for scholarships funded with monies from the Escheat Fund. If a child is awarded a scholarship under this Part, the Commission shall notify the recipient by May 1st of the year in which the recipient enrolls in college. (1967, c. 1060, s. 8; 1969, c. 741, s. 3; 1975, c. 137, s. 1; 1989, c. 767, s. 2; 2001-424, s. 7.1(b); 2002-126, s. 19.3(b); 2008-107, s. 19.2(a); 2015-241, s. 24.1(c), (ii); 2015-268, s. 7.3(a); 2019-214, s. 1(a); 2020-78, s. 17.3; 2023-134, ss. 8A.2(f), 33.4(a).)