California 2019-2020 Regular Session

California Senate Bill SB354 Compare Versions

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1-Senate Bill No. 354 CHAPTER 526 An act to amend Sections 70032, 70033, and 70034 of the Education Code, relating to postsecondary education. [ Approved by Governor October 04, 2019. Filed with Secretary of State October 04, 2019. ] LEGISLATIVE COUNSEL'S DIGESTSB 354, Durazo. California DREAM Loan Program: graduate degree programs.Existing law establishes the California DREAM Loan Program, which provides a student attending a participating campus of the University of California or California State University with a loan, referred to as a DREAM loan, if the student satisfies specified requirements, including a requirement that the student be exempt from paying nonresident tuition or meet equivalent requirements adopted by the regents, and that the student is enrolled in an instructional program, defined as a program of study that results in the award of a baccalaureate degree or undergraduate certificate, or undergraduate coursework in a program of study leading directly to a first professional degree for which no baccalaureate degree or undergraduate degree is awarded. This bill would, commencing with the 202021 academic year, expand DREAM loan eligibility to a student who is enrolled in a program of study leading to a professional or graduate degree, including, but not limited to, a teaching credential, if the student meets the other applicable qualifications. This bill would require the participating institution to determine the proportion of program funding used for instructional programs and for graduate programs. The bill would require that priority under this program be given to loans for instructional programs.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 70032 of the Education Code is amended to read:70032. As used in this article, the following terms have the following meanings:(a) An academic year is July 1 to June 30, inclusive. The start date of a session shall determine the academic year in which it is included.(b) Award year means one academic year, or the equivalent, of attendance at a qualifying institution.(c) Commission means the Student Aid Commission.(d) Cost of attendance means the students tuition and fees, books and supplies, living expenses, transportation expenses, and any other student expenses used to calculate a students financial need for purposes of federal Title IV student aid programs.(e) Enrollment status means part-time status or full-time status of a student at a qualifying institution.(f) Expected family contribution means a students expected family contribution calculated, pursuant to subdivision (a) of Section 69506, according to the federal methodology (as established by Title IV of the federal Higher Education Act of 1965, as amended (20 U.S.C. Sec. 1070 et seq.)).(g) Financial need means a students financial need calculated pursuant to the federal financial need methodology (as established by Title IV of the federal Higher Education Act of 1965, as amended (20 U.S.C. Sec. 1070 et seq.)).(h) Graduate program means a program of study leading to a graduate or professional degree, including, but not limited to, a teaching credential, the prerequisite for which is a baccalaureate degree or undergraduate degree.(i) Instructional program means a program of study that results in the award of a baccalaureate degree or undergraduate certificate, or undergraduate coursework in a program of study leading directly to a first professional degree for which no baccalaureate degree or undergraduate degree is awarded.(j) Participating institution means any campus of the California State University or the University of California that elects to participate in the DREAM Program pursuant to the requirements specified for a qualifying institution as set forth in this article.(k) Satisfactory academic progress means those criteria required by applicable federal standards published in Title 34 of the Code of Federal Regulations. A participating institution may adopt regulations defining satisfactory academic progress in a manner that duplicates those federal standards.SEC. 2. Section 70033 of the Education Code is amended to read:70033. (a) Commencing with the 201516 academic year, a student attending a participating institution may receive a loan under the DREAM Program if the student satisfies all of the following requirements:(1) The student is exempt from paying nonresident tuition under Section 68130.5, or meets equivalent requirements adopted by the Regents of the University of California.(2) The student applies for financial aid using the application established by the commission pursuant to subdivision (b) of Section 69508.5, known as the Dream Act Application.(3) The student is enrolled at least half time in good standing in one of the following programs at a participating institution:(A) An instructional program.(B) Commencing with the 202021 academic year, a graduate program.(4) The student is determined by the participating institution to have financial need.(5) The student maintains satisfactory academic progress at the participating institution.(6) The student is not incarcerated.(7) The student is not in default on any federal student loan, state student loan, or student loan issued by the California State University or the University of California.(8) The student is enrolled in one of the following programs:(A) A program eligible for participation in the Cal Grant Program.(B) Commencing with the 202021 academic year, a state-supported graduate or professional degree program.(b) (1) The commission or the participating institution shall require the student to affirm in writing that the student satisfies the requirements of paragraph (7) of subdivision (a).(2) A student seeking an award shall authorize the commission to access any information pertinent to certify that the student meets the requirements of subdivision (a).(c) The commission, in collaboration with the participating institution, shall certify that the student satisfies all of the requirements specified in subdivision (a) before the participating institution may issue an award to the student pursuant to this article.(d) The Legislature finds and declares that this article is a state law within the meaning of Section 1621(d) of Title 8 of the United States Code.SEC. 3. Section 70034 of the Education Code is amended to read:70034. (a) The amount of a DREAM loan offered to an individual student by a participating institution shall be determined by the institution, subject to the following provisions:(1) The loan may not exceed the financial need of the student.(2) No student may borrow more than four thousand dollars ($4,000) under this program within a single academic year.(3) No student may borrow more than twenty thousand dollars ($20,000) in the aggregate under the program from any one participating institution.(4) The proportion of program funding used for instructional programs and for graduate programs shall be determined at the discretion of the participating institution. Priority shall be given to loans for instructional programs.(b) The interest rate for loans issued under the program shall be the same as the then-current interest rate for undergraduate loans under the William D. Ford Federal Direct Loan Program (20 U.S.C. Sec. 1087a et seq.).(c) Except as provided in subdivision (d), the standard repayment term for a DREAM loan shall be 10 years. Repayment shall commence following a six-month grace period that begins when a student graduates or ceases to maintain at least half-time enrollment in a degree or certificate program.(d) On or before January 1, 2020, a participating institution shall adopt procedures allowing a borrower to select an income-based repayment plan for the repayment of a DREAM loan, in accordance with the standards set forth in the William D. Ford Federal Direct Loan Program for income-based repayment plans.(e) Interest shall not accrue on a DREAM loan during periods of at least half-time enrollment in a degree or certificate program or during the six-month grace period specified in subdivision (c).(f) Eligibility for deferment or forbearance of a DREAM loan shall be determined by the participating institution in accordance with the standards set forth in the William D. Ford Federal Direct Loan Program.(g) Participating institutions shall use a common promissory note, approved by the Treasurer, to issue DREAM loans.
1+Enrolled September 12, 2019 Passed IN Senate May 21, 2019 Passed IN Assembly September 10, 2019 Amended IN Senate April 10, 2019 Amended IN Senate March 25, 2019 CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION Senate Bill No. 354Introduced by Senator Durazo(Coauthor: Assembly Member Gonzalez)February 19, 2019 An act to amend Sections 70032, 70033, and 70034 of the Education Code, relating to postsecondary education. LEGISLATIVE COUNSEL'S DIGESTSB 354, Durazo. California DREAM Loan Program: graduate degree programs.Existing law establishes the California DREAM Loan Program, which provides a student attending a participating campus of the University of California or California State University with a loan, referred to as a DREAM loan, if the student satisfies specified requirements, including a requirement that the student be exempt from paying nonresident tuition or meet equivalent requirements adopted by the regents, and that the student is enrolled in an instructional program, defined as a program of study that results in the award of a baccalaureate degree or undergraduate certificate, or undergraduate coursework in a program of study leading directly to a first professional degree for which no baccalaureate degree or undergraduate degree is awarded. This bill would, commencing with the 202021 academic year, expand DREAM loan eligibility to a student who is enrolled in a program of study leading to a professional or graduate degree, including, but not limited to, a teaching credential, if the student meets the other applicable qualifications. This bill would require the participating institution to determine the proportion of program funding used for instructional programs and for graduate programs. The bill would require that priority under this program be given to loans for instructional programs.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 70032 of the Education Code is amended to read:70032. As used in this article, the following terms have the following meanings:(a) An academic year is July 1 to June 30, inclusive. The start date of a session shall determine the academic year in which it is included.(b) Award year means one academic year, or the equivalent, of attendance at a qualifying institution.(c) Commission means the Student Aid Commission.(d) Cost of attendance means the students tuition and fees, books and supplies, living expenses, transportation expenses, and any other student expenses used to calculate a students financial need for purposes of federal Title IV student aid programs.(e) Enrollment status means part-time status or full-time status of a student at a qualifying institution.(f) Expected family contribution means a students expected family contribution calculated, pursuant to subdivision (a) of Section 69506, according to the federal methodology (as established by Title IV of the federal Higher Education Act of 1965, as amended (20 U.S.C. Sec. 1070 et seq.)).(g) Financial need means a students financial need calculated pursuant to the federal financial need methodology (as established by Title IV of the federal Higher Education Act of 1965, as amended (20 U.S.C. Sec. 1070 et seq.)).(h) Graduate program means a program of study leading to a graduate or professional degree, including, but not limited to, a teaching credential, the prerequisite for which is a baccalaureate degree or undergraduate degree.(i) Instructional program means a program of study that results in the award of a baccalaureate degree or undergraduate certificate, or undergraduate coursework in a program of study leading directly to a first professional degree for which no baccalaureate degree or undergraduate degree is awarded.(j) Participating institution means any campus of the California State University or the University of California that elects to participate in the DREAM Program pursuant to the requirements specified for a qualifying institution as set forth in this article.(k) Satisfactory academic progress means those criteria required by applicable federal standards published in Title 34 of the Code of Federal Regulations. A participating institution may adopt regulations defining satisfactory academic progress in a manner that duplicates those federal standards.SEC. 2. Section 70033 of the Education Code is amended to read:70033. (a) Commencing with the 201516 academic year, a student attending a participating institution may receive a loan under the DREAM Program if the student satisfies all of the following requirements:(1) The student is exempt from paying nonresident tuition under Section 68130.5, or meets equivalent requirements adopted by the Regents of the University of California.(2) The student applies for financial aid using the application established by the commission pursuant to subdivision (b) of Section 69508.5, known as the Dream Act Application.(3) The student is enrolled at least half time in good standing in one of the following programs at a participating institution:(A) An instructional program.(B) Commencing with the 202021 academic year, a graduate program.(4) The student is determined by the participating institution to have financial need.(5) The student maintains satisfactory academic progress at the participating institution.(6) The student is not incarcerated.(7) The student is not in default on any federal student loan, state student loan, or student loan issued by the California State University or the University of California.(8) The student is enrolled in one of the following programs:(A) A program eligible for participation in the Cal Grant Program.(B) Commencing with the 202021 academic year, a state-supported graduate or professional degree program.(b) (1) The commission or the participating institution shall require the student to affirm in writing that the student satisfies the requirements of paragraph (7) of subdivision (a).(2) A student seeking an award shall authorize the commission to access any information pertinent to certify that the student meets the requirements of subdivision (a).(c) The commission, in collaboration with the participating institution, shall certify that the student satisfies all of the requirements specified in subdivision (a) before the participating institution may issue an award to the student pursuant to this article.(d) The Legislature finds and declares that this article is a state law within the meaning of Section 1621(d) of Title 8 of the United States Code.SEC. 3. Section 70034 of the Education Code is amended to read:70034. (a) The amount of a DREAM loan offered to an individual student by a participating institution shall be determined by the institution, subject to the following provisions:(1) The loan may not exceed the financial need of the student.(2) No student may borrow more than four thousand dollars ($4,000) under this program within a single academic year.(3) No student may borrow more than twenty thousand dollars ($20,000) in the aggregate under the program from any one participating institution.(4) The proportion of program funding used for instructional programs and for graduate programs shall be determined at the discretion of the participating institution. Priority shall be given to loans for instructional programs.(b) The interest rate for loans issued under the program shall be the same as the then-current interest rate for undergraduate loans under the William D. Ford Federal Direct Loan Program (20 U.S.C. Sec. 1087a et seq.).(c) Except as provided in subdivision (d), the standard repayment term for a DREAM loan shall be 10 years. Repayment shall commence following a six-month grace period that begins when a student graduates or ceases to maintain at least half-time enrollment in a degree or certificate program.(d) On or before January 1, 2020, a participating institution shall adopt procedures allowing a borrower to select an income-based repayment plan for the repayment of a DREAM loan, in accordance with the standards set forth in the William D. Ford Federal Direct Loan Program for income-based repayment plans.(e) Interest shall not accrue on a DREAM loan during periods of at least half-time enrollment in a degree or certificate program or during the six-month grace period specified in subdivision (c).(f) Eligibility for deferment or forbearance of a DREAM loan shall be determined by the participating institution in accordance with the standards set forth in the William D. Ford Federal Direct Loan Program.(g) Participating institutions shall use a common promissory note, approved by the Treasurer, to issue DREAM loans.<
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3- Senate Bill No. 354 CHAPTER 526 An act to amend Sections 70032, 70033, and 70034 of the Education Code, relating to postsecondary education. [ Approved by Governor October 04, 2019. Filed with Secretary of State October 04, 2019. ] LEGISLATIVE COUNSEL'S DIGESTSB 354, Durazo. California DREAM Loan Program: graduate degree programs.Existing law establishes the California DREAM Loan Program, which provides a student attending a participating campus of the University of California or California State University with a loan, referred to as a DREAM loan, if the student satisfies specified requirements, including a requirement that the student be exempt from paying nonresident tuition or meet equivalent requirements adopted by the regents, and that the student is enrolled in an instructional program, defined as a program of study that results in the award of a baccalaureate degree or undergraduate certificate, or undergraduate coursework in a program of study leading directly to a first professional degree for which no baccalaureate degree or undergraduate degree is awarded. This bill would, commencing with the 202021 academic year, expand DREAM loan eligibility to a student who is enrolled in a program of study leading to a professional or graduate degree, including, but not limited to, a teaching credential, if the student meets the other applicable qualifications. This bill would require the participating institution to determine the proportion of program funding used for instructional programs and for graduate programs. The bill would require that priority under this program be given to loans for instructional programs.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: NO
3+ Enrolled September 12, 2019 Passed IN Senate May 21, 2019 Passed IN Assembly September 10, 2019 Amended IN Senate April 10, 2019 Amended IN Senate March 25, 2019 CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION Senate Bill No. 354Introduced by Senator Durazo(Coauthor: Assembly Member Gonzalez)February 19, 2019 An act to amend Sections 70032, 70033, and 70034 of the Education Code, relating to postsecondary education. LEGISLATIVE COUNSEL'S DIGESTSB 354, Durazo. California DREAM Loan Program: graduate degree programs.Existing law establishes the California DREAM Loan Program, which provides a student attending a participating campus of the University of California or California State University with a loan, referred to as a DREAM loan, if the student satisfies specified requirements, including a requirement that the student be exempt from paying nonresident tuition or meet equivalent requirements adopted by the regents, and that the student is enrolled in an instructional program, defined as a program of study that results in the award of a baccalaureate degree or undergraduate certificate, or undergraduate coursework in a program of study leading directly to a first professional degree for which no baccalaureate degree or undergraduate degree is awarded. This bill would, commencing with the 202021 academic year, expand DREAM loan eligibility to a student who is enrolled in a program of study leading to a professional or graduate degree, including, but not limited to, a teaching credential, if the student meets the other applicable qualifications. This bill would require the participating institution to determine the proportion of program funding used for instructional programs and for graduate programs. The bill would require that priority under this program be given to loans for instructional programs.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: NO
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5- Senate Bill No. 354 CHAPTER 526
5+ Enrolled September 12, 2019 Passed IN Senate May 21, 2019 Passed IN Assembly September 10, 2019 Amended IN Senate April 10, 2019 Amended IN Senate March 25, 2019
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7- Senate Bill No. 354
7+Enrolled September 12, 2019
8+Passed IN Senate May 21, 2019
9+Passed IN Assembly September 10, 2019
10+Amended IN Senate April 10, 2019
11+Amended IN Senate March 25, 2019
812
9- CHAPTER 526
13+ CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION
14+
15+ Senate Bill
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17+No. 354
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19+Introduced by Senator Durazo(Coauthor: Assembly Member Gonzalez)February 19, 2019
20+
21+Introduced by Senator Durazo(Coauthor: Assembly Member Gonzalez)
22+February 19, 2019
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1124 An act to amend Sections 70032, 70033, and 70034 of the Education Code, relating to postsecondary education.
12-
13- [ Approved by Governor October 04, 2019. Filed with Secretary of State October 04, 2019. ]
1425
1526 LEGISLATIVE COUNSEL'S DIGEST
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1728 ## LEGISLATIVE COUNSEL'S DIGEST
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1930 SB 354, Durazo. California DREAM Loan Program: graduate degree programs.
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2132 Existing law establishes the California DREAM Loan Program, which provides a student attending a participating campus of the University of California or California State University with a loan, referred to as a DREAM loan, if the student satisfies specified requirements, including a requirement that the student be exempt from paying nonresident tuition or meet equivalent requirements adopted by the regents, and that the student is enrolled in an instructional program, defined as a program of study that results in the award of a baccalaureate degree or undergraduate certificate, or undergraduate coursework in a program of study leading directly to a first professional degree for which no baccalaureate degree or undergraduate degree is awarded. This bill would, commencing with the 202021 academic year, expand DREAM loan eligibility to a student who is enrolled in a program of study leading to a professional or graduate degree, including, but not limited to, a teaching credential, if the student meets the other applicable qualifications. This bill would require the participating institution to determine the proportion of program funding used for instructional programs and for graduate programs. The bill would require that priority under this program be given to loans for instructional programs.
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2334 Existing law establishes the California DREAM Loan Program, which provides a student attending a participating campus of the University of California or California State University with a loan, referred to as a DREAM loan, if the student satisfies specified requirements, including a requirement that the student be exempt from paying nonresident tuition or meet equivalent requirements adopted by the regents, and that the student is enrolled in an instructional program, defined as a program of study that results in the award of a baccalaureate degree or undergraduate certificate, or undergraduate coursework in a program of study leading directly to a first professional degree for which no baccalaureate degree or undergraduate degree is awarded.
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2536 This bill would, commencing with the 202021 academic year, expand DREAM loan eligibility to a student who is enrolled in a program of study leading to a professional or graduate degree, including, but not limited to, a teaching credential, if the student meets the other applicable qualifications. This bill would require the participating institution to determine the proportion of program funding used for instructional programs and for graduate programs. The bill would require that priority under this program be given to loans for instructional programs.
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2738 ## Digest Key
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2940 ## Bill Text
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31-The people of the State of California do enact as follows:SECTION 1. Section 70032 of the Education Code is amended to read:70032. As used in this article, the following terms have the following meanings:(a) An academic year is July 1 to June 30, inclusive. The start date of a session shall determine the academic year in which it is included.(b) Award year means one academic year, or the equivalent, of attendance at a qualifying institution.(c) Commission means the Student Aid Commission.(d) Cost of attendance means the students tuition and fees, books and supplies, living expenses, transportation expenses, and any other student expenses used to calculate a students financial need for purposes of federal Title IV student aid programs.(e) Enrollment status means part-time status or full-time status of a student at a qualifying institution.(f) Expected family contribution means a students expected family contribution calculated, pursuant to subdivision (a) of Section 69506, according to the federal methodology (as established by Title IV of the federal Higher Education Act of 1965, as amended (20 U.S.C. Sec. 1070 et seq.)).(g) Financial need means a students financial need calculated pursuant to the federal financial need methodology (as established by Title IV of the federal Higher Education Act of 1965, as amended (20 U.S.C. Sec. 1070 et seq.)).(h) Graduate program means a program of study leading to a graduate or professional degree, including, but not limited to, a teaching credential, the prerequisite for which is a baccalaureate degree or undergraduate degree.(i) Instructional program means a program of study that results in the award of a baccalaureate degree or undergraduate certificate, or undergraduate coursework in a program of study leading directly to a first professional degree for which no baccalaureate degree or undergraduate degree is awarded.(j) Participating institution means any campus of the California State University or the University of California that elects to participate in the DREAM Program pursuant to the requirements specified for a qualifying institution as set forth in this article.(k) Satisfactory academic progress means those criteria required by applicable federal standards published in Title 34 of the Code of Federal Regulations. A participating institution may adopt regulations defining satisfactory academic progress in a manner that duplicates those federal standards.SEC. 2. Section 70033 of the Education Code is amended to read:70033. (a) Commencing with the 201516 academic year, a student attending a participating institution may receive a loan under the DREAM Program if the student satisfies all of the following requirements:(1) The student is exempt from paying nonresident tuition under Section 68130.5, or meets equivalent requirements adopted by the Regents of the University of California.(2) The student applies for financial aid using the application established by the commission pursuant to subdivision (b) of Section 69508.5, known as the Dream Act Application.(3) The student is enrolled at least half time in good standing in one of the following programs at a participating institution:(A) An instructional program.(B) Commencing with the 202021 academic year, a graduate program.(4) The student is determined by the participating institution to have financial need.(5) The student maintains satisfactory academic progress at the participating institution.(6) The student is not incarcerated.(7) The student is not in default on any federal student loan, state student loan, or student loan issued by the California State University or the University of California.(8) The student is enrolled in one of the following programs:(A) A program eligible for participation in the Cal Grant Program.(B) Commencing with the 202021 academic year, a state-supported graduate or professional degree program.(b) (1) The commission or the participating institution shall require the student to affirm in writing that the student satisfies the requirements of paragraph (7) of subdivision (a).(2) A student seeking an award shall authorize the commission to access any information pertinent to certify that the student meets the requirements of subdivision (a).(c) The commission, in collaboration with the participating institution, shall certify that the student satisfies all of the requirements specified in subdivision (a) before the participating institution may issue an award to the student pursuant to this article.(d) The Legislature finds and declares that this article is a state law within the meaning of Section 1621(d) of Title 8 of the United States Code.SEC. 3. Section 70034 of the Education Code is amended to read:70034. (a) The amount of a DREAM loan offered to an individual student by a participating institution shall be determined by the institution, subject to the following provisions:(1) The loan may not exceed the financial need of the student.(2) No student may borrow more than four thousand dollars ($4,000) under this program within a single academic year.(3) No student may borrow more than twenty thousand dollars ($20,000) in the aggregate under the program from any one participating institution.(4) The proportion of program funding used for instructional programs and for graduate programs shall be determined at the discretion of the participating institution. Priority shall be given to loans for instructional programs.(b) The interest rate for loans issued under the program shall be the same as the then-current interest rate for undergraduate loans under the William D. Ford Federal Direct Loan Program (20 U.S.C. Sec. 1087a et seq.).(c) Except as provided in subdivision (d), the standard repayment term for a DREAM loan shall be 10 years. Repayment shall commence following a six-month grace period that begins when a student graduates or ceases to maintain at least half-time enrollment in a degree or certificate program.(d) On or before January 1, 2020, a participating institution shall adopt procedures allowing a borrower to select an income-based repayment plan for the repayment of a DREAM loan, in accordance with the standards set forth in the William D. Ford Federal Direct Loan Program for income-based repayment plans.(e) Interest shall not accrue on a DREAM loan during periods of at least half-time enrollment in a degree or certificate program or during the six-month grace period specified in subdivision (c).(f) Eligibility for deferment or forbearance of a DREAM loan shall be determined by the participating institution in accordance with the standards set forth in the William D. Ford Federal Direct Loan Program.(g) Participating institutions shall use a common promissory note, approved by the Treasurer, to issue DREAM loans.
42+The people of the State of California do enact as follows:SECTION 1. Section 70032 of the Education Code is amended to read:70032. As used in this article, the following terms have the following meanings:(a) An academic year is July 1 to June 30, inclusive. The start date of a session shall determine the academic year in which it is included.(b) Award year means one academic year, or the equivalent, of attendance at a qualifying institution.(c) Commission means the Student Aid Commission.(d) Cost of attendance means the students tuition and fees, books and supplies, living expenses, transportation expenses, and any other student expenses used to calculate a students financial need for purposes of federal Title IV student aid programs.(e) Enrollment status means part-time status or full-time status of a student at a qualifying institution.(f) Expected family contribution means a students expected family contribution calculated, pursuant to subdivision (a) of Section 69506, according to the federal methodology (as established by Title IV of the federal Higher Education Act of 1965, as amended (20 U.S.C. Sec. 1070 et seq.)).(g) Financial need means a students financial need calculated pursuant to the federal financial need methodology (as established by Title IV of the federal Higher Education Act of 1965, as amended (20 U.S.C. Sec. 1070 et seq.)).(h) Graduate program means a program of study leading to a graduate or professional degree, including, but not limited to, a teaching credential, the prerequisite for which is a baccalaureate degree or undergraduate degree.(i) Instructional program means a program of study that results in the award of a baccalaureate degree or undergraduate certificate, or undergraduate coursework in a program of study leading directly to a first professional degree for which no baccalaureate degree or undergraduate degree is awarded.(j) Participating institution means any campus of the California State University or the University of California that elects to participate in the DREAM Program pursuant to the requirements specified for a qualifying institution as set forth in this article.(k) Satisfactory academic progress means those criteria required by applicable federal standards published in Title 34 of the Code of Federal Regulations. A participating institution may adopt regulations defining satisfactory academic progress in a manner that duplicates those federal standards.SEC. 2. Section 70033 of the Education Code is amended to read:70033. (a) Commencing with the 201516 academic year, a student attending a participating institution may receive a loan under the DREAM Program if the student satisfies all of the following requirements:(1) The student is exempt from paying nonresident tuition under Section 68130.5, or meets equivalent requirements adopted by the Regents of the University of California.(2) The student applies for financial aid using the application established by the commission pursuant to subdivision (b) of Section 69508.5, known as the Dream Act Application.(3) The student is enrolled at least half time in good standing in one of the following programs at a participating institution:(A) An instructional program.(B) Commencing with the 202021 academic year, a graduate program.(4) The student is determined by the participating institution to have financial need.(5) The student maintains satisfactory academic progress at the participating institution.(6) The student is not incarcerated.(7) The student is not in default on any federal student loan, state student loan, or student loan issued by the California State University or the University of California.(8) The student is enrolled in one of the following programs:(A) A program eligible for participation in the Cal Grant Program.(B) Commencing with the 202021 academic year, a state-supported graduate or professional degree program.(b) (1) The commission or the participating institution shall require the student to affirm in writing that the student satisfies the requirements of paragraph (7) of subdivision (a).(2) A student seeking an award shall authorize the commission to access any information pertinent to certify that the student meets the requirements of subdivision (a).(c) The commission, in collaboration with the participating institution, shall certify that the student satisfies all of the requirements specified in subdivision (a) before the participating institution may issue an award to the student pursuant to this article.(d) The Legislature finds and declares that this article is a state law within the meaning of Section 1621(d) of Title 8 of the United States Code.SEC. 3. Section 70034 of the Education Code is amended to read:70034. (a) The amount of a DREAM loan offered to an individual student by a participating institution shall be determined by the institution, subject to the following provisions:(1) The loan may not exceed the financial need of the student.(2) No student may borrow more than four thousand dollars ($4,000) under this program within a single academic year.(3) No student may borrow more than twenty thousand dollars ($20,000) in the aggregate under the program from any one participating institution.(4) The proportion of program funding used for instructional programs and for graduate programs shall be determined at the discretion of the participating institution. Priority shall be given to loans for instructional programs.(b) The interest rate for loans issued under the program shall be the same as the then-current interest rate for undergraduate loans under the William D. Ford Federal Direct Loan Program (20 U.S.C. Sec. 1087a et seq.).(c) Except as provided in subdivision (d), the standard repayment term for a DREAM loan shall be 10 years. Repayment shall commence following a six-month grace period that begins when a student graduates or ceases to maintain at least half-time enrollment in a degree or certificate program.(d) On or before January 1, 2020, a participating institution shall adopt procedures allowing a borrower to select an income-based repayment plan for the repayment of a DREAM loan, in accordance with the standards set forth in the William D. Ford Federal Direct Loan Program for income-based repayment plans.(e) Interest shall not accrue on a DREAM loan during periods of at least half-time enrollment in a degree or certificate program or during the six-month grace period specified in subdivision (c).(f) Eligibility for deferment or forbearance of a DREAM loan shall be determined by the participating institution in accordance with the standards set forth in the William D. Ford Federal Direct Loan Program.(g) Participating institutions shall use a common promissory note, approved by the Treasurer, to issue DREAM loans.<
3243
3344 The people of the State of California do enact as follows:
3445
3546 ## The people of the State of California do enact as follows:
3647
3748 SECTION 1. Section 70032 of the Education Code is amended to read:70032. As used in this article, the following terms have the following meanings:(a) An academic year is July 1 to June 30, inclusive. The start date of a session shall determine the academic year in which it is included.(b) Award year means one academic year, or the equivalent, of attendance at a qualifying institution.(c) Commission means the Student Aid Commission.(d) Cost of attendance means the students tuition and fees, books and supplies, living expenses, transportation expenses, and any other student expenses used to calculate a students financial need for purposes of federal Title IV student aid programs.(e) Enrollment status means part-time status or full-time status of a student at a qualifying institution.(f) Expected family contribution means a students expected family contribution calculated, pursuant to subdivision (a) of Section 69506, according to the federal methodology (as established by Title IV of the federal Higher Education Act of 1965, as amended (20 U.S.C. Sec. 1070 et seq.)).(g) Financial need means a students financial need calculated pursuant to the federal financial need methodology (as established by Title IV of the federal Higher Education Act of 1965, as amended (20 U.S.C. Sec. 1070 et seq.)).(h) Graduate program means a program of study leading to a graduate or professional degree, including, but not limited to, a teaching credential, the prerequisite for which is a baccalaureate degree or undergraduate degree.(i) Instructional program means a program of study that results in the award of a baccalaureate degree or undergraduate certificate, or undergraduate coursework in a program of study leading directly to a first professional degree for which no baccalaureate degree or undergraduate degree is awarded.(j) Participating institution means any campus of the California State University or the University of California that elects to participate in the DREAM Program pursuant to the requirements specified for a qualifying institution as set forth in this article.(k) Satisfactory academic progress means those criteria required by applicable federal standards published in Title 34 of the Code of Federal Regulations. A participating institution may adopt regulations defining satisfactory academic progress in a manner that duplicates those federal standards.
3849
3950 SECTION 1. Section 70032 of the Education Code is amended to read:
4051
4152 ### SECTION 1.
4253
4354 70032. As used in this article, the following terms have the following meanings:(a) An academic year is July 1 to June 30, inclusive. The start date of a session shall determine the academic year in which it is included.(b) Award year means one academic year, or the equivalent, of attendance at a qualifying institution.(c) Commission means the Student Aid Commission.(d) Cost of attendance means the students tuition and fees, books and supplies, living expenses, transportation expenses, and any other student expenses used to calculate a students financial need for purposes of federal Title IV student aid programs.(e) Enrollment status means part-time status or full-time status of a student at a qualifying institution.(f) Expected family contribution means a students expected family contribution calculated, pursuant to subdivision (a) of Section 69506, according to the federal methodology (as established by Title IV of the federal Higher Education Act of 1965, as amended (20 U.S.C. Sec. 1070 et seq.)).(g) Financial need means a students financial need calculated pursuant to the federal financial need methodology (as established by Title IV of the federal Higher Education Act of 1965, as amended (20 U.S.C. Sec. 1070 et seq.)).(h) Graduate program means a program of study leading to a graduate or professional degree, including, but not limited to, a teaching credential, the prerequisite for which is a baccalaureate degree or undergraduate degree.(i) Instructional program means a program of study that results in the award of a baccalaureate degree or undergraduate certificate, or undergraduate coursework in a program of study leading directly to a first professional degree for which no baccalaureate degree or undergraduate degree is awarded.(j) Participating institution means any campus of the California State University or the University of California that elects to participate in the DREAM Program pursuant to the requirements specified for a qualifying institution as set forth in this article.(k) Satisfactory academic progress means those criteria required by applicable federal standards published in Title 34 of the Code of Federal Regulations. A participating institution may adopt regulations defining satisfactory academic progress in a manner that duplicates those federal standards.
4455
4556 70032. As used in this article, the following terms have the following meanings:(a) An academic year is July 1 to June 30, inclusive. The start date of a session shall determine the academic year in which it is included.(b) Award year means one academic year, or the equivalent, of attendance at a qualifying institution.(c) Commission means the Student Aid Commission.(d) Cost of attendance means the students tuition and fees, books and supplies, living expenses, transportation expenses, and any other student expenses used to calculate a students financial need for purposes of federal Title IV student aid programs.(e) Enrollment status means part-time status or full-time status of a student at a qualifying institution.(f) Expected family contribution means a students expected family contribution calculated, pursuant to subdivision (a) of Section 69506, according to the federal methodology (as established by Title IV of the federal Higher Education Act of 1965, as amended (20 U.S.C. Sec. 1070 et seq.)).(g) Financial need means a students financial need calculated pursuant to the federal financial need methodology (as established by Title IV of the federal Higher Education Act of 1965, as amended (20 U.S.C. Sec. 1070 et seq.)).(h) Graduate program means a program of study leading to a graduate or professional degree, including, but not limited to, a teaching credential, the prerequisite for which is a baccalaureate degree or undergraduate degree.(i) Instructional program means a program of study that results in the award of a baccalaureate degree or undergraduate certificate, or undergraduate coursework in a program of study leading directly to a first professional degree for which no baccalaureate degree or undergraduate degree is awarded.(j) Participating institution means any campus of the California State University or the University of California that elects to participate in the DREAM Program pursuant to the requirements specified for a qualifying institution as set forth in this article.(k) Satisfactory academic progress means those criteria required by applicable federal standards published in Title 34 of the Code of Federal Regulations. A participating institution may adopt regulations defining satisfactory academic progress in a manner that duplicates those federal standards.
4657
4758 70032. As used in this article, the following terms have the following meanings:(a) An academic year is July 1 to June 30, inclusive. The start date of a session shall determine the academic year in which it is included.(b) Award year means one academic year, or the equivalent, of attendance at a qualifying institution.(c) Commission means the Student Aid Commission.(d) Cost of attendance means the students tuition and fees, books and supplies, living expenses, transportation expenses, and any other student expenses used to calculate a students financial need for purposes of federal Title IV student aid programs.(e) Enrollment status means part-time status or full-time status of a student at a qualifying institution.(f) Expected family contribution means a students expected family contribution calculated, pursuant to subdivision (a) of Section 69506, according to the federal methodology (as established by Title IV of the federal Higher Education Act of 1965, as amended (20 U.S.C. Sec. 1070 et seq.)).(g) Financial need means a students financial need calculated pursuant to the federal financial need methodology (as established by Title IV of the federal Higher Education Act of 1965, as amended (20 U.S.C. Sec. 1070 et seq.)).(h) Graduate program means a program of study leading to a graduate or professional degree, including, but not limited to, a teaching credential, the prerequisite for which is a baccalaureate degree or undergraduate degree.(i) Instructional program means a program of study that results in the award of a baccalaureate degree or undergraduate certificate, or undergraduate coursework in a program of study leading directly to a first professional degree for which no baccalaureate degree or undergraduate degree is awarded.(j) Participating institution means any campus of the California State University or the University of California that elects to participate in the DREAM Program pursuant to the requirements specified for a qualifying institution as set forth in this article.(k) Satisfactory academic progress means those criteria required by applicable federal standards published in Title 34 of the Code of Federal Regulations. A participating institution may adopt regulations defining satisfactory academic progress in a manner that duplicates those federal standards.
4859
4960
5061
5162 70032. As used in this article, the following terms have the following meanings:
5263
5364 (a) An academic year is July 1 to June 30, inclusive. The start date of a session shall determine the academic year in which it is included.
5465
5566 (b) Award year means one academic year, or the equivalent, of attendance at a qualifying institution.
5667
5768 (c) Commission means the Student Aid Commission.
5869
5970 (d) Cost of attendance means the students tuition and fees, books and supplies, living expenses, transportation expenses, and any other student expenses used to calculate a students financial need for purposes of federal Title IV student aid programs.
6071
6172 (e) Enrollment status means part-time status or full-time status of a student at a qualifying institution.
6273
6374 (f) Expected family contribution means a students expected family contribution calculated, pursuant to subdivision (a) of Section 69506, according to the federal methodology (as established by Title IV of the federal Higher Education Act of 1965, as amended (20 U.S.C. Sec. 1070 et seq.)).
6475
6576 (g) Financial need means a students financial need calculated pursuant to the federal financial need methodology (as established by Title IV of the federal Higher Education Act of 1965, as amended (20 U.S.C. Sec. 1070 et seq.)).
6677
6778 (h) Graduate program means a program of study leading to a graduate or professional degree, including, but not limited to, a teaching credential, the prerequisite for which is a baccalaureate degree or undergraduate degree.
6879
6980 (i) Instructional program means a program of study that results in the award of a baccalaureate degree or undergraduate certificate, or undergraduate coursework in a program of study leading directly to a first professional degree for which no baccalaureate degree or undergraduate degree is awarded.
7081
7182 (j) Participating institution means any campus of the California State University or the University of California that elects to participate in the DREAM Program pursuant to the requirements specified for a qualifying institution as set forth in this article.
7283
7384 (k) Satisfactory academic progress means those criteria required by applicable federal standards published in Title 34 of the Code of Federal Regulations. A participating institution may adopt regulations defining satisfactory academic progress in a manner that duplicates those federal standards.
7485
7586 SEC. 2. Section 70033 of the Education Code is amended to read:70033. (a) Commencing with the 201516 academic year, a student attending a participating institution may receive a loan under the DREAM Program if the student satisfies all of the following requirements:(1) The student is exempt from paying nonresident tuition under Section 68130.5, or meets equivalent requirements adopted by the Regents of the University of California.(2) The student applies for financial aid using the application established by the commission pursuant to subdivision (b) of Section 69508.5, known as the Dream Act Application.(3) The student is enrolled at least half time in good standing in one of the following programs at a participating institution:(A) An instructional program.(B) Commencing with the 202021 academic year, a graduate program.(4) The student is determined by the participating institution to have financial need.(5) The student maintains satisfactory academic progress at the participating institution.(6) The student is not incarcerated.(7) The student is not in default on any federal student loan, state student loan, or student loan issued by the California State University or the University of California.(8) The student is enrolled in one of the following programs:(A) A program eligible for participation in the Cal Grant Program.(B) Commencing with the 202021 academic year, a state-supported graduate or professional degree program.(b) (1) The commission or the participating institution shall require the student to affirm in writing that the student satisfies the requirements of paragraph (7) of subdivision (a).(2) A student seeking an award shall authorize the commission to access any information pertinent to certify that the student meets the requirements of subdivision (a).(c) The commission, in collaboration with the participating institution, shall certify that the student satisfies all of the requirements specified in subdivision (a) before the participating institution may issue an award to the student pursuant to this article.(d) The Legislature finds and declares that this article is a state law within the meaning of Section 1621(d) of Title 8 of the United States Code.
7687
7788 SEC. 2. Section 70033 of the Education Code is amended to read:
7889
7990 ### SEC. 2.
8091
8192 70033. (a) Commencing with the 201516 academic year, a student attending a participating institution may receive a loan under the DREAM Program if the student satisfies all of the following requirements:(1) The student is exempt from paying nonresident tuition under Section 68130.5, or meets equivalent requirements adopted by the Regents of the University of California.(2) The student applies for financial aid using the application established by the commission pursuant to subdivision (b) of Section 69508.5, known as the Dream Act Application.(3) The student is enrolled at least half time in good standing in one of the following programs at a participating institution:(A) An instructional program.(B) Commencing with the 202021 academic year, a graduate program.(4) The student is determined by the participating institution to have financial need.(5) The student maintains satisfactory academic progress at the participating institution.(6) The student is not incarcerated.(7) The student is not in default on any federal student loan, state student loan, or student loan issued by the California State University or the University of California.(8) The student is enrolled in one of the following programs:(A) A program eligible for participation in the Cal Grant Program.(B) Commencing with the 202021 academic year, a state-supported graduate or professional degree program.(b) (1) The commission or the participating institution shall require the student to affirm in writing that the student satisfies the requirements of paragraph (7) of subdivision (a).(2) A student seeking an award shall authorize the commission to access any information pertinent to certify that the student meets the requirements of subdivision (a).(c) The commission, in collaboration with the participating institution, shall certify that the student satisfies all of the requirements specified in subdivision (a) before the participating institution may issue an award to the student pursuant to this article.(d) The Legislature finds and declares that this article is a state law within the meaning of Section 1621(d) of Title 8 of the United States Code.
8293
8394 70033. (a) Commencing with the 201516 academic year, a student attending a participating institution may receive a loan under the DREAM Program if the student satisfies all of the following requirements:(1) The student is exempt from paying nonresident tuition under Section 68130.5, or meets equivalent requirements adopted by the Regents of the University of California.(2) The student applies for financial aid using the application established by the commission pursuant to subdivision (b) of Section 69508.5, known as the Dream Act Application.(3) The student is enrolled at least half time in good standing in one of the following programs at a participating institution:(A) An instructional program.(B) Commencing with the 202021 academic year, a graduate program.(4) The student is determined by the participating institution to have financial need.(5) The student maintains satisfactory academic progress at the participating institution.(6) The student is not incarcerated.(7) The student is not in default on any federal student loan, state student loan, or student loan issued by the California State University or the University of California.(8) The student is enrolled in one of the following programs:(A) A program eligible for participation in the Cal Grant Program.(B) Commencing with the 202021 academic year, a state-supported graduate or professional degree program.(b) (1) The commission or the participating institution shall require the student to affirm in writing that the student satisfies the requirements of paragraph (7) of subdivision (a).(2) A student seeking an award shall authorize the commission to access any information pertinent to certify that the student meets the requirements of subdivision (a).(c) The commission, in collaboration with the participating institution, shall certify that the student satisfies all of the requirements specified in subdivision (a) before the participating institution may issue an award to the student pursuant to this article.(d) The Legislature finds and declares that this article is a state law within the meaning of Section 1621(d) of Title 8 of the United States Code.
8495
8596 70033. (a) Commencing with the 201516 academic year, a student attending a participating institution may receive a loan under the DREAM Program if the student satisfies all of the following requirements:(1) The student is exempt from paying nonresident tuition under Section 68130.5, or meets equivalent requirements adopted by the Regents of the University of California.(2) The student applies for financial aid using the application established by the commission pursuant to subdivision (b) of Section 69508.5, known as the Dream Act Application.(3) The student is enrolled at least half time in good standing in one of the following programs at a participating institution:(A) An instructional program.(B) Commencing with the 202021 academic year, a graduate program.(4) The student is determined by the participating institution to have financial need.(5) The student maintains satisfactory academic progress at the participating institution.(6) The student is not incarcerated.(7) The student is not in default on any federal student loan, state student loan, or student loan issued by the California State University or the University of California.(8) The student is enrolled in one of the following programs:(A) A program eligible for participation in the Cal Grant Program.(B) Commencing with the 202021 academic year, a state-supported graduate or professional degree program.(b) (1) The commission or the participating institution shall require the student to affirm in writing that the student satisfies the requirements of paragraph (7) of subdivision (a).(2) A student seeking an award shall authorize the commission to access any information pertinent to certify that the student meets the requirements of subdivision (a).(c) The commission, in collaboration with the participating institution, shall certify that the student satisfies all of the requirements specified in subdivision (a) before the participating institution may issue an award to the student pursuant to this article.(d) The Legislature finds and declares that this article is a state law within the meaning of Section 1621(d) of Title 8 of the United States Code.
8697
8798
8899
89100 70033. (a) Commencing with the 201516 academic year, a student attending a participating institution may receive a loan under the DREAM Program if the student satisfies all of the following requirements:
90101
91102 (1) The student is exempt from paying nonresident tuition under Section 68130.5, or meets equivalent requirements adopted by the Regents of the University of California.
92103
93104 (2) The student applies for financial aid using the application established by the commission pursuant to subdivision (b) of Section 69508.5, known as the Dream Act Application.
94105
95106 (3) The student is enrolled at least half time in good standing in one of the following programs at a participating institution:
96107
97108 (A) An instructional program.
98109
99110 (B) Commencing with the 202021 academic year, a graduate program.
100111
101112 (4) The student is determined by the participating institution to have financial need.
102113
103114 (5) The student maintains satisfactory academic progress at the participating institution.
104115
105116 (6) The student is not incarcerated.
106117
107118 (7) The student is not in default on any federal student loan, state student loan, or student loan issued by the California State University or the University of California.
108119
109120 (8) The student is enrolled in one of the following programs:
110121
111122 (A) A program eligible for participation in the Cal Grant Program.
112123
113124 (B) Commencing with the 202021 academic year, a state-supported graduate or professional degree program.
114125
115126 (b) (1) The commission or the participating institution shall require the student to affirm in writing that the student satisfies the requirements of paragraph (7) of subdivision (a).
116127
117128 (2) A student seeking an award shall authorize the commission to access any information pertinent to certify that the student meets the requirements of subdivision (a).
118129
119130 (c) The commission, in collaboration with the participating institution, shall certify that the student satisfies all of the requirements specified in subdivision (a) before the participating institution may issue an award to the student pursuant to this article.
120131
121132 (d) The Legislature finds and declares that this article is a state law within the meaning of Section 1621(d) of Title 8 of the United States Code.
122133
123-SEC. 3. Section 70034 of the Education Code is amended to read:70034. (a) The amount of a DREAM loan offered to an individual student by a participating institution shall be determined by the institution, subject to the following provisions:(1) The loan may not exceed the financial need of the student.(2) No student may borrow more than four thousand dollars ($4,000) under this program within a single academic year.(3) No student may borrow more than twenty thousand dollars ($20,000) in the aggregate under the program from any one participating institution.(4) The proportion of program funding used for instructional programs and for graduate programs shall be determined at the discretion of the participating institution. Priority shall be given to loans for instructional programs.(b) The interest rate for loans issued under the program shall be the same as the then-current interest rate for undergraduate loans under the William D. Ford Federal Direct Loan Program (20 U.S.C. Sec. 1087a et seq.).(c) Except as provided in subdivision (d), the standard repayment term for a DREAM loan shall be 10 years. Repayment shall commence following a six-month grace period that begins when a student graduates or ceases to maintain at least half-time enrollment in a degree or certificate program.(d) On or before January 1, 2020, a participating institution shall adopt procedures allowing a borrower to select an income-based repayment plan for the repayment of a DREAM loan, in accordance with the standards set forth in the William D. Ford Federal Direct Loan Program for income-based repayment plans.(e) Interest shall not accrue on a DREAM loan during periods of at least half-time enrollment in a degree or certificate program or during the six-month grace period specified in subdivision (c).(f) Eligibility for deferment or forbearance of a DREAM loan shall be determined by the participating institution in accordance with the standards set forth in the William D. Ford Federal Direct Loan Program.(g) Participating institutions shall use a common promissory note, approved by the Treasurer, to issue DREAM loans.
134+SEC. 3. Section 70034 of the Education Code is amended to read:70034. (a) The amount of a DREAM loan offered to an individual student by a participating institution shall be determined by the institution, subject to the following provisions:(1) The loan may not exceed the financial need of the student.(2) No student may borrow more than four thousand dollars ($4,000) under this program within a single academic year.(3) No student may borrow more than twenty thousand dollars ($20,000) in the aggregate under the program from any one participating institution.(4) The proportion of program funding used for instructional programs and for graduate programs shall be determined at the discretion of the participating institution. Priority shall be given to loans for instructional programs.(b) The interest rate for loans issued under the program shall be the same as the then-current interest rate for undergraduate loans under the William D. Ford Federal Direct Loan Program (20 U.S.C. Sec. 1087a et seq.).(c) Except as provided in subdivision (d), the standard repayment term for a DREAM loan shall be 10 years. Repayment shall commence following a six-month grace period that begins when a student graduates or ceases to maintain at least half-time enrollment in a degree or certificate program.(d) On or before January 1, 2020, a participating institution shall adopt procedures allowing a borrower to select an income-based repayment plan for the repayment of a DREAM loan, in accordance with the standards set forth in the William D. Ford Federal Direct Loan Program for income-based repayment plans.(e) Interest shall not accrue on a DREAM loan during periods of at least half-time enrollment in a degree or certificate program or during the six-month grace period specified in subdivision (c).(f) Eligibility for deferment or forbearance of a DREAM loan shall be determined by the participating institution in accordance with the standards set forth in the William D. Ford Federal Direct Loan Program.(g) Participating institutions shall use a common promissory note, approved by the Treasurer, to issue DREAM loans.<
124135
125136 SEC. 3. Section 70034 of the Education Code is amended to read:
126137
127138 ### SEC. 3.
128139
129-70034. (a) The amount of a DREAM loan offered to an individual student by a participating institution shall be determined by the institution, subject to the following provisions:(1) The loan may not exceed the financial need of the student.(2) No student may borrow more than four thousand dollars ($4,000) under this program within a single academic year.(3) No student may borrow more than twenty thousand dollars ($20,000) in the aggregate under the program from any one participating institution.(4) The proportion of program funding used for instructional programs and for graduate programs shall be determined at the discretion of the participating institution. Priority shall be given to loans for instructional programs.(b) The interest rate for loans issued under the program shall be the same as the then-current interest rate for undergraduate loans under the William D. Ford Federal Direct Loan Program (20 U.S.C. Sec. 1087a et seq.).(c) Except as provided in subdivision (d), the standard repayment term for a DREAM loan shall be 10 years. Repayment shall commence following a six-month grace period that begins when a student graduates or ceases to maintain at least half-time enrollment in a degree or certificate program.(d) On or before January 1, 2020, a participating institution shall adopt procedures allowing a borrower to select an income-based repayment plan for the repayment of a DREAM loan, in accordance with the standards set forth in the William D. Ford Federal Direct Loan Program for income-based repayment plans.(e) Interest shall not accrue on a DREAM loan during periods of at least half-time enrollment in a degree or certificate program or during the six-month grace period specified in subdivision (c).(f) Eligibility for deferment or forbearance of a DREAM loan shall be determined by the participating institution in accordance with the standards set forth in the William D. Ford Federal Direct Loan Program.(g) Participating institutions shall use a common promissory note, approved by the Treasurer, to issue DREAM loans.
140+70034. (a) The amount of a DREAM loan offered to an individual student by a participating institution shall be determined by the institution, subject to the following provisions:(1) The loan may not exceed the financial need of the student.(2) No student may borrow more than four thousand dollars ($4,000) under this program within a single academic year.(3) No student may borrow more than twenty thousand dollars ($20,000) in the aggregate under the program from any one participating institution.(4) The proportion of program funding used for instructional programs and for graduate programs shall be determined at the discretion of the participating institution. Priority shall be given to loans for instructional programs.(b) The interest rate for loans issued under the program shall be the same as the then-current interest rate for undergraduate loans under the William D. Ford Federal Direct Loan Program (20 U.S.C. Sec. 1087a et seq.).(c) Except as provided in subdivision (d), the standard repayment term for a DREAM loan shall be 10 years. Repayment shall commence following a six-month grace period that begins when a student graduates or ceases to maintain at least half-time enrollment in a degree or certificate program.(d) On or before January 1, 2020, a participating institution shall adopt procedures allowing a borrower to select an income-based repayment plan for the repayment of a DREAM loan, in accordance with the standards set forth in the William D. Ford Federal Direct Loan Program for income-based repayment plans.(e) Interest shall not accrue on a DREAM loan during periods of at least half-time enrollment in a degree or certificate program or during the six-month grace period specified in subdivision (c).(f) Eligibility for deferment or forbearance of a DREAM loan shall be determined by the participating institution in accordance with the standards set forth in the William D. Ford Federal Direct Loan Program.(g) Participating institutions shall use a common promissory note, approved by the Treasurer, to issue DREAM loans.<
130141
131142 70034. (a) The amount of a DREAM loan offered to an individual student by a participating institution shall be determined by the institution, subject to the following provisions:(1) The loan may not exceed the financial need of the student.(2) No student may borrow more than four thousand dollars ($4,000) under this program within a single academic year.(3) No student may borrow more than twenty thousand dollars ($20,000) in the aggregate under the program from any one participating institution.(4) The proportion of program funding used for instructional programs and for graduate programs shall be determined at the discretion of the participating institution. Priority shall be given to loans for instructional programs.(b) The interest rate for loans issued under the program shall be the same as the then-current interest rate for undergraduate loans under the William D. Ford Federal Direct Loan Program (20 U.S.C. Sec. 1087a et seq.).(c) Except as provided in subdivision (d), the standard repayment term for a DREAM loan shall be 10 years. Repayment shall commence following a six-month grace period that begins when a student graduates or ceases to maintain at least half-time enrollment in a degree or certificate program.(d) On or before January 1, 2020, a participating institution shall adopt procedures allowing a borrower to select an income-based repayment plan for the repayment of a DREAM loan, in accordance with the standards set forth in the William D. Ford Federal Direct Loan Program for income-based repayment plans.(e) Interest shall not accrue on a DREAM loan during periods of at least half-time enrollment in a degree or certificate program or during the six-month grace period specified in subdivision (c).(f) Eligibility for deferment or forbearance of a DREAM loan shall be determined by the participating institution in accordance with the standards set forth in the William D. Ford Federal Direct Loan Program.(g) Participating institutions shall use a common promissory note, approved by the Treasurer, to issue DREAM loans.
132143
133144 70034. (a) The amount of a DREAM loan offered to an individual student by a participating institution shall be determined by the institution, subject to the following provisions:(1) The loan may not exceed the financial need of the student.(2) No student may borrow more than four thousand dollars ($4,000) under this program within a single academic year.(3) No student may borrow more than twenty thousand dollars ($20,000) in the aggregate under the program from any one participating institution.(4) The proportion of program funding used for instructional programs and for graduate programs shall be determined at the discretion of the participating institution. Priority shall be given to loans for instructional programs.(b) The interest rate for loans issued under the program shall be the same as the then-current interest rate for undergraduate loans under the William D. Ford Federal Direct Loan Program (20 U.S.C. Sec. 1087a et seq.).(c) Except as provided in subdivision (d), the standard repayment term for a DREAM loan shall be 10 years. Repayment shall commence following a six-month grace period that begins when a student graduates or ceases to maintain at least half-time enrollment in a degree or certificate program.(d) On or before January 1, 2020, a participating institution shall adopt procedures allowing a borrower to select an income-based repayment plan for the repayment of a DREAM loan, in accordance with the standards set forth in the William D. Ford Federal Direct Loan Program for income-based repayment plans.(e) Interest shall not accrue on a DREAM loan during periods of at least half-time enrollment in a degree or certificate program or during the six-month grace period specified in subdivision (c).(f) Eligibility for deferment or forbearance of a DREAM loan shall be determined by the participating institution in accordance with the standards set forth in the William D. Ford Federal Direct Loan Program.(g) Participating institutions shall use a common promissory note, approved by the Treasurer, to issue DREAM loans.
134145
135146
136147
137148 70034. (a) The amount of a DREAM loan offered to an individual student by a participating institution shall be determined by the institution, subject to the following provisions:
138149
139150 (1) The loan may not exceed the financial need of the student.
140151
141152 (2) No student may borrow more than four thousand dollars ($4,000) under this program within a single academic year.
142153
143154 (3) No student may borrow more than twenty thousand dollars ($20,000) in the aggregate under the program from any one participating institution.
144155
145156 (4) The proportion of program funding used for instructional programs and for graduate programs shall be determined at the discretion of the participating institution. Priority shall be given to loans for instructional programs.
146157
147158 (b) The interest rate for loans issued under the program shall be the same as the then-current interest rate for undergraduate loans under the William D. Ford Federal Direct Loan Program (20 U.S.C. Sec. 1087a et seq.).
148159
149160 (c) Except as provided in subdivision (d), the standard repayment term for a DREAM loan shall be 10 years. Repayment shall commence following a six-month grace period that begins when a student graduates or ceases to maintain at least half-time enrollment in a degree or certificate program.
150161
151162 (d) On or before January 1, 2020, a participating institution shall adopt procedures allowing a borrower to select an income-based repayment plan for the repayment of a DREAM loan, in accordance with the standards set forth in the William D. Ford Federal Direct Loan Program for income-based repayment plans.
152163
153164 (e) Interest shall not accrue on a DREAM loan during periods of at least half-time enrollment in a degree or certificate program or during the six-month grace period specified in subdivision (c).
154165
155166 (f) Eligibility for deferment or forbearance of a DREAM loan shall be determined by the participating institution in accordance with the standards set forth in the William D. Ford Federal Direct Loan Program.
156167
157168 (g) Participating institutions shall use a common promissory note, approved by the Treasurer, to issue DREAM loans.