Adds new Part 3A, North Carolina Nursing Fellows Program, under Article 23 of GS Chapter 116, as follows. Defines twelve terms, including qualifying nurse (an eligible nurse who holds a B.S. in Nursing from Winston-Salem State University and who is employed as a nurse in the state); qualified nursing instructor (an eligible nurse who holds a B.S. in Nursing and an M.S. in Nursing Education from Winston-Salem State University and is employed as an instructor in a qualified nursing program in the state); and qualifying nursing program (a nursing program at a community college, university, or private postsecondary institution that prepares students to earn a degree in nursing and become a licensed practical nurse in the state).  

Establishes the North Carolina Nursing Fellows Program (Fellows Program) in GS 116-209.65 with the purpose of recruiting, preparing, and supporting students enrolled in an eligible nursing program at Winston-Salem State University (WSSU) for preparation as highly effective nurses and instructors by providing forgivable loans to those nursing students interested in preparing to become nurses in the state or instructors in qualifying nursing programs. Provides for administration of the Fellows Program by the State Educational Assistance Authority (Authority) in cooperation with the Dean of the School of Health Sciences at WSSU, with the Dean to determine selection criteria (including those set forth in the act) and engage in recruitment.  Provides for staff and office space by WSSU.

Establishes the North Carolina Nursing Fellows Program Trust Fund (Fund) to provide the financial assistance to be administered by the Authority and the Dean. Allows money in the Trust Fund to be used only for forgivable loans under the Fellows Program, administrative costs of the Fellows Program, mentoring and coaching support for loan recipients, and extracurricular enhancement activities as described. Sets out provisions governing the administration of the loans and establishes reporting requirements, with annual reports due to the specified NCGA committee starting January 1, 2027. Establishes the amount of the forgivable loans as $5,000 per semester/$2,500 per summer session with the number of eligible semesters dependent upon whether the recipient is either a student pursuing a career as a qualifying nurse or a student pursuing a career as a qualifying nurse instructor. Lists permitted uses of loan funds, including tuition, fees, and books. Requires an annual report, beginning January 1, 2027, to the specified NCGA committee on the Trust Fund and related information on the Fellows Program.   

Sets out the terms of the forgivable loans including interest caps in GS 116-209.66. Provides rules for forgiveness as follows. For every year a qualifying nurse remains a qualifying nurse or a qualifying nurse instructor, directs the Authority to forgive one-third of the total loan amount received over the course of enrollment in the applicable degree program and any interest accrued on that amount.  Directs the Authority to also forgive the loan if it finds that it is impossible for the recipient to work for up to three years, within ten years after completion of the Bachelor of Science in Nursing degree program for persons pursuing forgiveness as qualifying nurses or of the Master of Science in Nursing Education degree program for persons pursuing forgiveness as qualifying nurse instructors, because of the death or permanent disability of the recipient. Requires completion of indebtedness within 10 years after completion of the latest applicable degree program supported by the forgivable loan if the recipient pays in cash. Allows for extension of the repayment program under extenuating circumstances for no more than a total of 12 years.

Makes conforming changes to GS 116-204.

Requires applications to be available by December 31, 2025, and for recipients to be selected and initial awards made by April 1, 2026.

Appropriates $1.4 million in recurring funds for 2025-26 from the General Fund to the Fund to establish the Fellows Program.

Effective July 1, 2025, and applies beginning with applications for enrollment in the Fellows Program in the 2026-27 academic year.

Appropriates $100,000 from the General Fund to the UNC Board of Governors in recurring funds for 2025-26 to be allocated to WSSU to provide mentoring, coaching, and other curriculum-support services for students enrolled in a nursing degree program at WSSU. Effective July 1, 2025.