Bill > AB1202

This bill establishes the California Legislative Staff Education Loan Repayment Program, administered by the Student Aid Commission, to provide financial assistance to full-time legislative staff members in the California State Assembly and Senate. The program offers eligible employees up to $50,000 in student loan repayment, disbursed in equal monthly installments over 20 years. To qualify, applicants must be full-time legislative staff who have been employed for at least 12 continuous months, and they must provide proof of employment and receive a good standing attestation from their supervisor. The program will be funded through a newly created California Legislative Staff Education Loan Repayment Fund, which can accept donations, and the commission will monitor the program for potential fraud. The Student Aid Commission is required to submit an annual report to the Legislature detailing the number of awardees, fund balance, and program recommendations. The program's operation is contingent upon a specific appropriation in the annual Budget Act, and the commission is limited to using 5% of appropriated funds for administrative purposes. Eligible loans include student loans for postsecondary education serviced by recognized lenders, and full-time employment is defined as working 40 hours per week in a legislative capacity.

Education

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260AB1202