On February 7, 2000, about 1630 eastern standard time, a Cessna 152, N69174, registered to Challenge Air, Llc., operated by First in Flight Aviation, experienced collapse of the nose landing gear while landing at the Franklin County Airport, Louisburg, North Carolina. Visual meteorological conditions prevailed at the time and no flight plan was filed for the 14 CFR Part 91 instructional flight. The student pilot, the sole occupant, was not injured. The flight originated about 24 minutes earlier. The pilot stated that he was practicing touch-and-go landings in preparation for his first solo cross- country flight. He was on his second touch-and-go landing and had turned base and final. After crossing over the threshold with the flaps fully extended, he flared too soon and the airplane began to float. The airplane then touched down and bounced, and while airborne, he applied aft elevator control input but did not apply power. The airplane then stalled, impacted hard on the runway to the left of the runway centerline, then bounced and touched down a third time off the left side of the runway. The airplane also collided with a 2-3 foot high snowbank off the left side of the runway. An automated METAR weather observation taken on the airport about 26 minutes after the accident indicates in part that the wind was from 280 degrees at 7 knots.