Bill > AB700

This bill establishes a new state-level student loan forgiveness program for public service workers in California. The program would provide up to $10,000 in loan forgiveness for employees of state agencies, local government agencies, or nonprofit organizations who have continuously made payments on their student loans and have served in their role for at least 10 years. Applicants must provide proof of full-time employment and receive attestation from their supervisor or board member that they are in good standing. The Student Aid Commission will be responsible for administering the program, developing guidelines, and creating the Public Service Education Loan Forgiveness Fund, which will be supported through donations. The commission is required to monitor the program for fraud, annually report to the Legislature about the program's performance, and use no more than 5% of appropriated funds for administrative costs. The program is specifically designed as an alternative to the federal Public Service Loan Forgiveness Program in case that program becomes obsolete. The bill's implementation is contingent upon specific appropriations in the state budget, and it includes provisions for defining qualifying nonprofit organizations and government agencies. Additionally, the bill includes safeguards against fraudulent applications and allows the commission to pursue legal action to recover improperly awarded funds.

Education

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260AB700