2014-15 Principal Fellows Scholarship Loan Amounts
First Year Fellows
The Principal Fellows Program scholarship loan for the 2014-2015 academic year for first year Fellows is $30,000. Funds will be allotted from the NC State Education Assistance Authority to each Fellow’s campus at the rate of $15,000 per semester. Tuition and fees will be deducted from the $15,000 at the beginning of the semester and the Fellow will be able to access the remainder of the $15,00 from the financial aid office.
By meeting the criteria for renewal, Fellows will qualify for continuation of the scholarship loan for the 2015-2016 year. In addition during the second year Fellows will receive an internship stipend for ten months. The award and renewal are contingent upon appropriations made by the North Carolina General Assembly.
Second Year Fellows
The total amount second year Principal Fellows will receive for the 2014-2015 academic year is $42,380.
Here is how each amount is determined:
Source #1- Scholarship Loan: 60% of the 2014-15 state salary of a first year assistant principal (60% of $3,828 = $2296.80 per month multiplied by ten, plus $4,100 for tuition and fees) for a total of $27,068. These funds will be sent from the NC State Education Assistance Authority (SEAA) to each Fellow’s university at the rate of $13,534 per semester. Tuition and fees will be deducted from the $13,534 amount at the beginning of each semester and the Fellow will be able to access the remainder of the $13,534 from the financial aid office.
Source #2 - Stipend: 40% of the 2014-15 state salary of a first year assistant principal (40% of $3,828= $1,531.20 per month multiplied by ten for a total of $15,312) will be allotted from the State Board of Education to each Fellow’s internship school system. Each Fellow will receive a monthly check from the school system for $1,531.20 less all applicable taxes.
When you combine funding from both sources the total amount is $42,380.
Required Forms for Second Year Fellows
Fellows are required to complete the following forms by the stated deadline:
- DPI Verification of Internship Form: Fellows should give their completed form to their campus coordinator for a signature and then mail the original document to the Principal Fellows office by May 31. The PFP office will process the form and send it to DPI Licensure so Fellows will receive credit for one year of experience on their teaching license for their internship.
- Notification of Employment Form: Fellows are required to send this form to the State Education Assistance Authority and a copy to the Principal Fellows Program office. Submission of this form ensures that the SEAA has documentation that the Fellow has been hired for a school executive role and can begin the repayment of the scholarship loan through service as a school administrator in a North Carolina school. Fellows should contact the PFP office for a copy of this form.
Principal Fellows Enrichment Seminars
Principal Fellows participate in enrichment seminars designed to provide leadership development and information to help prepare them for school leadership positions. Information concerning upcoming enrichment seminars will be posted on the website. Participation is required.
Resources for Principal Fellows
Links to several professional organizations are included on the right. Fellows may find the following articles helpful as they begin the search for employment:
- Behavioral Based Interview - This article from the Ford Group gives 50 behavioral based interview questions. While it is based on the corporate sector, you should be able to adapt and modify these questions to school leadership.
- Post College Internships - This article from Career Journal (a subsidiary of the Wall Street Journal) has a key point for Principal Fellows - that is to, whenever possible, find ways to volunteer and help in different areas outside of what you do in the internship-hiring officials get a chance to see how you can bring “intangibles” to their district.
- Top Ten Job Search Tips - This article is fromthe classified section of the Raleigh News and Observer. Former Director, Dr. Chris Hitch, adapted a couple of their tips to make it more practical for you as school executives.