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North Carolina Transforming Principal Preparation Program

Description
The North Carolina Transforming Principal Preparation Program (the "Program") was established by the General Assembly in 2015 as a competitive grant program for institutions of higher education, as well as for-profit or nonprofit organizations, to elevate educators in North Carolina public schools by transforming the preparation of principals across the state. The institutions that are awarded grants under the Program ("Grant Recipient Institutions") must have an evidence-based plan for preparing school leaders who implement school leadership practices linked to increased student achievement.

In June, 2019, the General Assembly amended the Program to provide for financial assistance, in the form of forgivable loans, to the participants of those school leader preparation programs attending Grant Recipient Institutions. The Program is specifically designed to provide accelerated loan forgiveness for those participants who service their loans by working in a North Carolina public school identified as a "high-need school." Funding for the Program is contingent each year upon appropriations made available to the State Education Assistance Authority by the General Assembly.

Eligibility
An Applicant must meet the following eligibility requirements:
  • Is certified by the Commission as eligible to receive a loan
  • Is enrolled as a Full-time student in a School Leader Preparation Program at a Grant Receipt Institution
  • Meets the Minimum Academic Requirements
  • Executes a Promissory Note
  • Is not in default, or does not owe a refund, under any Federal or State loan or grant program; and
  • Agrees to work in a Qualified Position in North Carolina


Amount
Annual loan amounts shall not exceed $20,000 per year for up to two years. The Maximum Aggregate loan amount shall not exceed $40,000 per School Leader Program Participant.

Application Procedure
Contact the director of the North Carolina Transforming Principal Preparation Program.

Eddie Price, Ed.D
910 Raleigh Rd.
Chapel Hill, NC 27514
919-291-0008

Other Information
Repayment Period

Length for Service Repayment. The repayment period for loan forgiveness through service generally shall not exceed seven (7) years from the date of graduation from the School Leader Preparation Program.

Length for Cash Repayment. The repayment period for cash repayment generally shall not exceed ten 10 years from the date of graduation from the School Leader Preparation Program. Cash repayment shall begin no later than 27 months after graduation from the School Leader Preparation Program. If the Program Participant's loan is terminated, the repayment period begins ninety (90) days from the Program Participant's termination from his or her School Leader Preparation Program.

Rate of loan Forgiveness.
  1. Fifty-Percent of the total amount of the loans will be forgiven for one year of Full-time employment as a School Leader in a Public School identified as a high-need School.
  2. Twenty-Five Percent of the total amount of the loans will be forgiven for one year of Full-time employment as a School Leader in a Public School not identified as a high-need School.
  3. If a Public School identified as a high-need School becomes a Public School not identified as a high-need School while the Program Participant is employed in a Qualified Position at that school, the loan will continue to be forgiven at the rate for employment in a Public School Identified as a high-need School.
  4. Employment for less than twelve (12) months as a School Leader in a Qualified Position may qualify for a period of loan forgiveness at a rate determined by the Authority.
  5. If within the same Academic Year, the Program Participant is employed at both a Public School identified as a high-need School and a Public School Not Identified as a high-need School, the rate of loan forgiveness will be based on the rate applied to service at a high-need School.


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