Bill > AB2345

This bill establishes the California Health Care Workforce Supplemental Loan Program to help California residents pursuing medical and nursing degrees cover the cost of their education, especially after recent federal changes eliminated certain federal student loans like the "federal direct grad PLUS loan" (a federal loan for graduate and professional students) and imposed stricter borrowing limits. The program, administered by the Student Aid Commission, aims to provide financial assistance equivalent to what was available through federal direct unsubsidized loans and federal direct grad PLUS loans before January 20, 2025, for eligible students who have already maximized their federal unsubsidized loan amounts and would have qualified for the now-eliminated federal grad PLUS loans. Loans under this new program will have similar financial terms, interest rates, repayment options, and origination fees as the federal grad PLUS loans did on January 20, 2025, and will be funded through a new Health Care Workforce Supplemental Loan Fund in the State Treasury.

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260AB2345