§ 116-21.1. Financial aid for North Carolina students and licensure students attending private institutions of higher education in North Carolina. - North Carolina Statutes

§ 116‑21.1.  Financialaid for North Carolina students and licensure students attending privateinstitutions of higher education in North Carolina.

(a)        Funds shall beappropriated each fiscal year in the Current Operations Appropriations Act tothe Board of Governors of The University of North Carolina for aid toinstitutions and shall be disbursed in accordance with the provisions of G.S.116‑19, 116‑21, and 116‑22.

(b)        The fundsappropriated in compliance with this section shall be placed in a separate, identifiableaccount in each eligible institution's budget or chart of accounts. All fundsin the account shall be provided as scholarship funds for needy North Carolinastudents and licensure students during the fiscal year. Each student andlicensure student awarded a scholarship from this account shall be notified ofthe source of the funds and of the amount of the award. Funds not utilizedunder G.S. 116‑19 shall be available for the tuition grant program asdefined in G.S. 116‑21.2. (2001‑424, s. 31.1(a); 2006‑66, s.9.13(c).)