Frequently Asked Questions

The scholarship loan is repaid through service as a school-based administrator (assistant principal or principal) at a North Carolina public school. A Principal Fellow is expected to serve as an administrator for a minimum of four (4) years with six (6) years of graduating from the MSA program. If the service repayment terms are not met, the Principal Fellow will repay in cash at 10% interest.

It is paid in increments of $15,000 at the beginning of the fall and spring semesters. No payments are made during the summer. The funds are sent to the financial aid office at the Principal Fellow’s campus where tuition and fees are deducted and the balance is issued to the student.

You are required to complete the four years of service in a public school in North Carolina within six years following graduation. If you serve as an assistant principal or principal for four years your loan is repaid.

The State Education Assistance Authority (SEAA) performs all of the fiscal functions necessary to administer the scholarship loan program including: rule making, disbursement, receipt and determination of the acceptability of srvice repayment.

If, as a Principal Fellow, you are on leave from a State-paid position, your health insurance will continue to be paid by the State. Your retirement account is held in abeyance, although you may choose to contribute while in the program or buy back the two years after returning to service. Principal Fellows can earn one year of experience credit on their license for the year spent in the full-time internship.

Part-time employment is allowed during the first year of the program as long as it does not interfere with meeting the obligations of the PFP and does not exceed 20 hours per week. Employment during the second year of the program is not permitted due to the full-time internship.

You are required to complete the four years of service in a public school in North Carolina within six years following graduation. If you serve as an assistant principal or principal for four years your loan is repaid.

Principal Fellows are required to be enrolled as full-time students during the first year of academic studies and to participate in a full-time internship during the second year. These requirements necessitate taking a leave of absence or resigning from a full-time position.

You must be enrolled full-time and remain in good standing in an MSA program at a university participating as an approved Principal Fellows Program site, complete a full-time internship in a public school during the second year of the program and participate in professional development activities provided by the Principal Fellows Program and the participating university. There are 11 participating universities.

Applications are reviewed and all qualified applicants participate in a candidate assessment day during February and March at several sites in the state. The Principal Fellows Commission selects the Principal Fellows in March and candidates are notified in April.