§ 116‑74.44. North Carolina Principal Fellows Program established

There is established the North Carolina Principal Fellows Program as a competitive grant program for eligible entities for the purpose of elevating educators in North Carolina public schools by transforming the preparation of principals across the State and providing for forgivable scholarship loans to the participants of those school leader preparation programs.

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NCSEAA Rules Governing the NC Principal Fellows Program

The program is designed to recruit, prepare, and support highly-effective school leaders in North Carolina by offering forgivable scholarship loans (or similar financial incentives) to candidates who commit to serve as principals in the state, especially in high-need schools. It outlines eligibility criteria for participants, terms of the loans (including service obligations and forgiveness schedules), and responsibilities of partnering institutions (eligible entities) that carry out the fellowship preparation. It also details administrative oversight mechanisms, reporting requirements, and the role of the principal fellows commission in program governance.

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NCSEAA Master Promissory Note and Forgivable Loan Agreement

The NCPFP promissory note is a legally binding document that serves as a written promise by the Principal Fellow to pay a specified sum of money to the North Carolina State Education Assistance Authority. The document includes key details such as the principal amount, interest rate, repayment schedule, and maturity date of the forgivable loan.

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NCPFP Rules and Regulations Manual

This handbook serves as the central resource for understanding how the program is governed and how it operates on a day-to-day basis. Here, you will find information drawn from legislation, Commission-adopted rules, policies of the North Carolina State Education Assistance Authority (NCSEAA), and program practices developed in partnership with universities and school districts. By bringing these elements together in one place, the Handbook is designed to provide clarity, consistency, and ease of access for all stakeholders, including Commissioners, university partners, district leaders, and Principal Fellows themselves. It is both a guide to program governance and a practical reference for carrying out the work of preparing the next generation of school leaders.

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A History of the NCPFP and TP3
The NCPFP and TP3 Merger
Legislation, Rules and Policies
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