| 1 | | - | Assembly Bill No. 1178 CHAPTER 448 An act to add Section 69509.6 to the Education Code, relating to postsecondary education. [ Approved by Governor October 03, 2017. Filed with Secretary of State October 03, 2017. ] LEGISLATIVE COUNSEL'S DIGESTAB 1178, Calderon. Postsecondary education: student loans.Under existing law, the segments of postsecondary education in this state are the University of California, the California State University, the California Community Colleges, independent institutions of higher education, and private postsecondary educational institutions.This bill would require, commencing with the 201819 award year, each higher education institution, except for the California Community Colleges, to the extent that the institution receives a student borrowers federal, state, and private education loan information, to send an individualized letter, by regular mail or electronic mail, to that student that includes specified information.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: NO Bill TextThe people of the State of California do enact as follows:SECTION 1. Section 69509.6 is added to the Education Code, to read:69509.6. (a) Commencing with the 201819 award year, each higher education institution, except for the California Community Colleges, shall, to the extent that the institution receives a student borrowers federal, state, and private education loan information, send an individualized letter, by regular mail or electronic mail, to that student that includes all of the following information:(1) An estimate of all of the following:(A) The total cumulative principal amount of his or her federal, state, and private education loans.(B) The potential total payoff amount of his or her federal, state, and private education loans incurred or a range of the total payoff amount.(C) Monthly repayment amounts that a similarly situated borrower may incur, including principal and interest, for the amount of loans the student has taken out at the time the information is provided, assuming a 10-year repayment plan under current federal loan interest rates.(2) A statement that the estimates provided pursuant to paragraph (1) are general in nature and not meant as a guarantee or promise of the actual projected amounts, and that they are based on the loan amounts that the institution is aware of and may not include all student debt incurred; that borrowers with private loans may have substantially higher payments; and that federal student loan borrowers may be eligible for repayment plans that extend beyond ten years.(3) Contact information for the institutions financial aid office or a financial aid or academic adviser of the institution.(b) An institution described in subdivision (a) shall not incur liability for any representations made in the estimates provided pursuant to paragraph (1) of subdivision (a).(c) If an institution is not able to provide a student with estimates pursuant to paragraph (1) of subdivision (a), the institution shall inform the student in the letter described in subdivision (a) that he or she may view his or her financial aid history by establishing a federal student aid account, or accessing his or her federal student aid account if established, through the National Student Loan Data System. The institution shall provide the student with the Internet Web site link to the system. |
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| 1 | + | Enrolled September 13, 2017 Passed IN Senate September 06, 2017 Passed IN Assembly September 11, 2017 Amended IN Senate July 12, 2017 Amended IN Assembly May 30, 2017 Amended IN Assembly April 20, 2017 Amended IN Assembly March 30, 2017 CALIFORNIA LEGISLATURE 20172018 REGULAR SESSION Assembly Bill No. 1178Introduced by Assembly Member Calderon(Principal coauthor: Assembly Member Kalra)February 17, 2017 An act to add Section 69509.6 to the Education Code, relating to postsecondary education. LEGISLATIVE COUNSEL'S DIGESTAB 1178, Calderon. Postsecondary education: student loans.Under existing law, the segments of postsecondary education in this state are the University of California, the California State University, the California Community Colleges, independent institutions of higher education, and private postsecondary educational institutions.This bill would require, commencing with the 201819 award year, each higher education institution, except for the California Community Colleges, to the extent that the institution receives a student borrowers federal, state, and private education loan information, to send an individualized letter, by regular mail or electronic mail, to that student that includes specified information.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: NO Bill TextThe people of the State of California do enact as follows:SECTION 1. Section 69509.6 is added to the Education Code, to read:69509.6. (a) Commencing with the 201819 award year, each higher education institution, except for the California Community Colleges, shall, to the extent that the institution receives a student borrowers federal, state, and private education loan information, send an individualized letter, by regular mail or electronic mail, to that student that includes all of the following information:(1) An estimate of all of the following:(A) The total cumulative principal amount of his or her federal, state, and private education loans.(B) The potential total payoff amount of his or her federal, state, and private education loans incurred or a range of the total payoff amount.(C) Monthly repayment amounts that a similarly situated borrower may incur, including principal and interest, for the amount of loans the student has taken out at the time the information is provided, assuming a 10-year repayment plan under current federal loan interest rates.(2) A statement that the estimates provided pursuant to paragraph (1) are general in nature and not meant as a guarantee or promise of the actual projected amounts, and that they are based on the loan amounts that the institution is aware of and may not include all student debt incurred; that borrowers with private loans may have substantially higher payments; and that federal student loan borrowers may be eligible for repayment plans that extend beyond ten years.(3) Contact information for the institutions financial aid office or a financial aid or academic adviser of the institution.(b) An institution described in subdivision (a) shall not incur liability for any representations made in the estimates provided pursuant to paragraph (1) of subdivision (a).(c) If an institution is not able to provide a student with estimates pursuant to paragraph (1) of subdivision (a), the institution shall inform the student in the letter described in subdivision (a) that he or she may view his or her financial aid history by establishing a federal student aid account, or accessing his or her federal student aid account if established, through the National Student Loan Data System. The institution shall provide the student with the Internet Web site link to the system. |
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| 3 | | - | Assembly Bill No. 1178 CHAPTER 448 An act to add Section 69509.6 to the Education Code, relating to postsecondary education. [ Approved by Governor October 03, 2017. Filed with Secretary of State October 03, 2017. ] LEGISLATIVE COUNSEL'S DIGESTAB 1178, Calderon. Postsecondary education: student loans.Under existing law, the segments of postsecondary education in this state are the University of California, the California State University, the California Community Colleges, independent institutions of higher education, and private postsecondary educational institutions.This bill would require, commencing with the 201819 award year, each higher education institution, except for the California Community Colleges, to the extent that the institution receives a student borrowers federal, state, and private education loan information, to send an individualized letter, by regular mail or electronic mail, to that student that includes specified information.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: NO |
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| 3 | + | Enrolled September 13, 2017 Passed IN Senate September 06, 2017 Passed IN Assembly September 11, 2017 Amended IN Senate July 12, 2017 Amended IN Assembly May 30, 2017 Amended IN Assembly April 20, 2017 Amended IN Assembly March 30, 2017 CALIFORNIA LEGISLATURE 20172018 REGULAR SESSION Assembly Bill No. 1178Introduced by Assembly Member Calderon(Principal coauthor: Assembly Member Kalra)February 17, 2017 An act to add Section 69509.6 to the Education Code, relating to postsecondary education. LEGISLATIVE COUNSEL'S DIGESTAB 1178, Calderon. Postsecondary education: student loans.Under existing law, the segments of postsecondary education in this state are the University of California, the California State University, the California Community Colleges, independent institutions of higher education, and private postsecondary educational institutions.This bill would require, commencing with the 201819 award year, each higher education institution, except for the California Community Colleges, to the extent that the institution receives a student borrowers federal, state, and private education loan information, to send an individualized letter, by regular mail or electronic mail, to that student that includes specified information.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: NO |
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| 4 | + | |
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| 5 | + | Enrolled September 13, 2017 Passed IN Senate September 06, 2017 Passed IN Assembly September 11, 2017 Amended IN Senate July 12, 2017 Amended IN Assembly May 30, 2017 Amended IN Assembly April 20, 2017 Amended IN Assembly March 30, 2017 |
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| 6 | + | |
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| 7 | + | Enrolled September 13, 2017 |
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| 8 | + | Passed IN Senate September 06, 2017 |
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| 9 | + | Passed IN Assembly September 11, 2017 |
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| 10 | + | Amended IN Senate July 12, 2017 |
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| 11 | + | Amended IN Assembly May 30, 2017 |
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| 12 | + | Amended IN Assembly April 20, 2017 |
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| 13 | + | Amended IN Assembly March 30, 2017 |
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| 14 | + | |
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| 15 | + | CALIFORNIA LEGISLATURE 20172018 REGULAR SESSION |
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| 11 | 25 | | |
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| 12 | 26 | | LEGISLATIVE COUNSEL'S DIGEST |
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| 13 | 27 | | |
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| 14 | 28 | | ## LEGISLATIVE COUNSEL'S DIGEST |
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| 15 | 29 | | |
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| 16 | 30 | | AB 1178, Calderon. Postsecondary education: student loans. |
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| 17 | 31 | | |
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| 18 | 32 | | Under existing law, the segments of postsecondary education in this state are the University of California, the California State University, the California Community Colleges, independent institutions of higher education, and private postsecondary educational institutions.This bill would require, commencing with the 201819 award year, each higher education institution, except for the California Community Colleges, to the extent that the institution receives a student borrowers federal, state, and private education loan information, to send an individualized letter, by regular mail or electronic mail, to that student that includes specified information. |
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| 19 | 33 | | |
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| 20 | 34 | | Under existing law, the segments of postsecondary education in this state are the University of California, the California State University, the California Community Colleges, independent institutions of higher education, and private postsecondary educational institutions. |
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| 21 | 35 | | |
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| 22 | 36 | | This bill would require, commencing with the 201819 award year, each higher education institution, except for the California Community Colleges, to the extent that the institution receives a student borrowers federal, state, and private education loan information, to send an individualized letter, by regular mail or electronic mail, to that student that includes specified information. |
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| 23 | 37 | | |
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| 24 | 38 | | ## Digest Key |
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| 25 | 39 | | |
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| 26 | 40 | | ## Bill Text |
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| 27 | 41 | | |
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| 28 | 42 | | The people of the State of California do enact as follows:SECTION 1. Section 69509.6 is added to the Education Code, to read:69509.6. (a) Commencing with the 201819 award year, each higher education institution, except for the California Community Colleges, shall, to the extent that the institution receives a student borrowers federal, state, and private education loan information, send an individualized letter, by regular mail or electronic mail, to that student that includes all of the following information:(1) An estimate of all of the following:(A) The total cumulative principal amount of his or her federal, state, and private education loans.(B) The potential total payoff amount of his or her federal, state, and private education loans incurred or a range of the total payoff amount.(C) Monthly repayment amounts that a similarly situated borrower may incur, including principal and interest, for the amount of loans the student has taken out at the time the information is provided, assuming a 10-year repayment plan under current federal loan interest rates.(2) A statement that the estimates provided pursuant to paragraph (1) are general in nature and not meant as a guarantee or promise of the actual projected amounts, and that they are based on the loan amounts that the institution is aware of and may not include all student debt incurred; that borrowers with private loans may have substantially higher payments; and that federal student loan borrowers may be eligible for repayment plans that extend beyond ten years.(3) Contact information for the institutions financial aid office or a financial aid or academic adviser of the institution.(b) An institution described in subdivision (a) shall not incur liability for any representations made in the estimates provided pursuant to paragraph (1) of subdivision (a).(c) If an institution is not able to provide a student with estimates pursuant to paragraph (1) of subdivision (a), the institution shall inform the student in the letter described in subdivision (a) that he or she may view his or her financial aid history by establishing a federal student aid account, or accessing his or her federal student aid account if established, through the National Student Loan Data System. The institution shall provide the student with the Internet Web site link to the system. |
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| 29 | 43 | | |
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| 30 | 44 | | The people of the State of California do enact as follows: |
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| 31 | 45 | | |
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| 32 | 46 | | ## The people of the State of California do enact as follows: |
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| 33 | 47 | | |
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| 34 | 48 | | SECTION 1. Section 69509.6 is added to the Education Code, to read:69509.6. (a) Commencing with the 201819 award year, each higher education institution, except for the California Community Colleges, shall, to the extent that the institution receives a student borrowers federal, state, and private education loan information, send an individualized letter, by regular mail or electronic mail, to that student that includes all of the following information:(1) An estimate of all of the following:(A) The total cumulative principal amount of his or her federal, state, and private education loans.(B) The potential total payoff amount of his or her federal, state, and private education loans incurred or a range of the total payoff amount.(C) Monthly repayment amounts that a similarly situated borrower may incur, including principal and interest, for the amount of loans the student has taken out at the time the information is provided, assuming a 10-year repayment plan under current federal loan interest rates.(2) A statement that the estimates provided pursuant to paragraph (1) are general in nature and not meant as a guarantee or promise of the actual projected amounts, and that they are based on the loan amounts that the institution is aware of and may not include all student debt incurred; that borrowers with private loans may have substantially higher payments; and that federal student loan borrowers may be eligible for repayment plans that extend beyond ten years.(3) Contact information for the institutions financial aid office or a financial aid or academic adviser of the institution.(b) An institution described in subdivision (a) shall not incur liability for any representations made in the estimates provided pursuant to paragraph (1) of subdivision (a).(c) If an institution is not able to provide a student with estimates pursuant to paragraph (1) of subdivision (a), the institution shall inform the student in the letter described in subdivision (a) that he or she may view his or her financial aid history by establishing a federal student aid account, or accessing his or her federal student aid account if established, through the National Student Loan Data System. The institution shall provide the student with the Internet Web site link to the system. |
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| 35 | 49 | | |
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| 36 | 50 | | SECTION 1. Section 69509.6 is added to the Education Code, to read: |
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| 37 | 51 | | |
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| 38 | 52 | | ### SECTION 1. |
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| 39 | 53 | | |
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| 40 | 54 | | 69509.6. (a) Commencing with the 201819 award year, each higher education institution, except for the California Community Colleges, shall, to the extent that the institution receives a student borrowers federal, state, and private education loan information, send an individualized letter, by regular mail or electronic mail, to that student that includes all of the following information:(1) An estimate of all of the following:(A) The total cumulative principal amount of his or her federal, state, and private education loans.(B) The potential total payoff amount of his or her federal, state, and private education loans incurred or a range of the total payoff amount.(C) Monthly repayment amounts that a similarly situated borrower may incur, including principal and interest, for the amount of loans the student has taken out at the time the information is provided, assuming a 10-year repayment plan under current federal loan interest rates.(2) A statement that the estimates provided pursuant to paragraph (1) are general in nature and not meant as a guarantee or promise of the actual projected amounts, and that they are based on the loan amounts that the institution is aware of and may not include all student debt incurred; that borrowers with private loans may have substantially higher payments; and that federal student loan borrowers may be eligible for repayment plans that extend beyond ten years.(3) Contact information for the institutions financial aid office or a financial aid or academic adviser of the institution.(b) An institution described in subdivision (a) shall not incur liability for any representations made in the estimates provided pursuant to paragraph (1) of subdivision (a).(c) If an institution is not able to provide a student with estimates pursuant to paragraph (1) of subdivision (a), the institution shall inform the student in the letter described in subdivision (a) that he or she may view his or her financial aid history by establishing a federal student aid account, or accessing his or her federal student aid account if established, through the National Student Loan Data System. The institution shall provide the student with the Internet Web site link to the system. |
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| 41 | 55 | | |
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| 42 | 56 | | 69509.6. (a) Commencing with the 201819 award year, each higher education institution, except for the California Community Colleges, shall, to the extent that the institution receives a student borrowers federal, state, and private education loan information, send an individualized letter, by regular mail or electronic mail, to that student that includes all of the following information:(1) An estimate of all of the following:(A) The total cumulative principal amount of his or her federal, state, and private education loans.(B) The potential total payoff amount of his or her federal, state, and private education loans incurred or a range of the total payoff amount.(C) Monthly repayment amounts that a similarly situated borrower may incur, including principal and interest, for the amount of loans the student has taken out at the time the information is provided, assuming a 10-year repayment plan under current federal loan interest rates.(2) A statement that the estimates provided pursuant to paragraph (1) are general in nature and not meant as a guarantee or promise of the actual projected amounts, and that they are based on the loan amounts that the institution is aware of and may not include all student debt incurred; that borrowers with private loans may have substantially higher payments; and that federal student loan borrowers may be eligible for repayment plans that extend beyond ten years.(3) Contact information for the institutions financial aid office or a financial aid or academic adviser of the institution.(b) An institution described in subdivision (a) shall not incur liability for any representations made in the estimates provided pursuant to paragraph (1) of subdivision (a).(c) If an institution is not able to provide a student with estimates pursuant to paragraph (1) of subdivision (a), the institution shall inform the student in the letter described in subdivision (a) that he or she may view his or her financial aid history by establishing a federal student aid account, or accessing his or her federal student aid account if established, through the National Student Loan Data System. The institution shall provide the student with the Internet Web site link to the system. |
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| 43 | 57 | | |
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| 44 | 58 | | 69509.6. (a) Commencing with the 201819 award year, each higher education institution, except for the California Community Colleges, shall, to the extent that the institution receives a student borrowers federal, state, and private education loan information, send an individualized letter, by regular mail or electronic mail, to that student that includes all of the following information:(1) An estimate of all of the following:(A) The total cumulative principal amount of his or her federal, state, and private education loans.(B) The potential total payoff amount of his or her federal, state, and private education loans incurred or a range of the total payoff amount.(C) Monthly repayment amounts that a similarly situated borrower may incur, including principal and interest, for the amount of loans the student has taken out at the time the information is provided, assuming a 10-year repayment plan under current federal loan interest rates.(2) A statement that the estimates provided pursuant to paragraph (1) are general in nature and not meant as a guarantee or promise of the actual projected amounts, and that they are based on the loan amounts that the institution is aware of and may not include all student debt incurred; that borrowers with private loans may have substantially higher payments; and that federal student loan borrowers may be eligible for repayment plans that extend beyond ten years.(3) Contact information for the institutions financial aid office or a financial aid or academic adviser of the institution.(b) An institution described in subdivision (a) shall not incur liability for any representations made in the estimates provided pursuant to paragraph (1) of subdivision (a).(c) If an institution is not able to provide a student with estimates pursuant to paragraph (1) of subdivision (a), the institution shall inform the student in the letter described in subdivision (a) that he or she may view his or her financial aid history by establishing a federal student aid account, or accessing his or her federal student aid account if established, through the National Student Loan Data System. The institution shall provide the student with the Internet Web site link to the system. |
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| 45 | 59 | | |
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| 46 | 60 | | |
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| 47 | 61 | | |
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| 48 | 62 | | 69509.6. (a) Commencing with the 201819 award year, each higher education institution, except for the California Community Colleges, shall, to the extent that the institution receives a student borrowers federal, state, and private education loan information, send an individualized letter, by regular mail or electronic mail, to that student that includes all of the following information: |
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| 49 | 63 | | |
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| 50 | 64 | | (1) An estimate of all of the following: |
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| 51 | 65 | | |
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| 52 | 66 | | (A) The total cumulative principal amount of his or her federal, state, and private education loans. |
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| 53 | 67 | | |
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| 54 | 68 | | (B) The potential total payoff amount of his or her federal, state, and private education loans incurred or a range of the total payoff amount. |
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| 55 | 69 | | |
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| 56 | 70 | | (C) Monthly repayment amounts that a similarly situated borrower may incur, including principal and interest, for the amount of loans the student has taken out at the time the information is provided, assuming a 10-year repayment plan under current federal loan interest rates. |
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| 57 | 71 | | |
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| 58 | 72 | | (2) A statement that the estimates provided pursuant to paragraph (1) are general in nature and not meant as a guarantee or promise of the actual projected amounts, and that they are based on the loan amounts that the institution is aware of and may not include all student debt incurred; that borrowers with private loans may have substantially higher payments; and that federal student loan borrowers may be eligible for repayment plans that extend beyond ten years. |
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| 59 | 73 | | |
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| 60 | 74 | | (3) Contact information for the institutions financial aid office or a financial aid or academic adviser of the institution. |
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| 61 | 75 | | |
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| 62 | 76 | | (b) An institution described in subdivision (a) shall not incur liability for any representations made in the estimates provided pursuant to paragraph (1) of subdivision (a). |
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| 63 | 77 | | |
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| 64 | 78 | | (c) If an institution is not able to provide a student with estimates pursuant to paragraph (1) of subdivision (a), the institution shall inform the student in the letter described in subdivision (a) that he or she may view his or her financial aid history by establishing a federal student aid account, or accessing his or her federal student aid account if established, through the National Student Loan Data System. The institution shall provide the student with the Internet Web site link to the system. |
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