Bill > AB681

This bill modifies the California DREAM Loan Program, which provides financial aid to students attending University of California or California State University campuses. The bill changes the borrowing limits for students in undergraduate and graduate programs. For undergraduate students, the annual borrowing limit remains at $4,000, and the aggregate limit stays at $20,000. For graduate students, the annual borrowing limit is increased from $20,000 to $20,500, and the aggregate limit is raised from $20,000 to $118,500. The total aggregate limit for students who borrow for both undergraduate and graduate programs is set at $138,500. The bill maintains other existing provisions of the program, such as basing loan amounts on financial need, using an interest rate comparable to federal undergraduate loans, providing a six-month grace period after graduation, and offering potential loan forgiveness and administrative relief options similar to federal loan programs. The DREAM Loan Program is specifically designed to support students, likely including undocumented students who meet certain eligibility criteria, though the specific eligibility requirements are not detailed in this bill text.

Budget and Finance, Education

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260AB681