BILL NUMBER: SB 518	INTRODUCED
	BILL TEXT


INTRODUCED BY   Senator Wyland

                        FEBRUARY 21, 2013

   An act to amend Section 70103 of the Education Code, relating to
student financial aid.


	LEGISLATIVE COUNSEL'S DIGEST


   SB 518, as introduced, Wyland. Student financial aid: State
Nursing Assumption Program of Loans for Education.
   Existing law establishes the State Nursing Assumption Program of
Loans for Education, administered by the Student Aid Commission,
whereby eligible postsecondary education students may enter into loan
repayment agreements with the commission, with specified terms, in
exchange for serving as nursing faculty in a registered nursing
program at an accredited California college or university.
   This bill would make a nonsubstantive change in the provision
specifying the terms of the loan assumption agreement under this
program.
   Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 70103 of the Education Code is amended to read:

   70103.  The terms of the loan assumptions granted under this
article shall be as follows, subject to the specific terms of each
loan assumption agreement:
   (a) After a program participant has completed one academic year,
or the equivalent, of full-time teaching nursing studies at one or
more regionally accredited, eligible California colleges or
universities, pursuant to Section 70102, the commission shall assume
up to eight thousand three hundred thirty-three dollars ($8,333) of
the outstanding liability of the participant under one or more of the
designated loan programs.
   (b) After the program participant has completed two consecutive
academic years, or the equivalent, of full-time teaching at one or
more regionally accredited California colleges or universities,
pursuant to Section 70102, the commission shall assume up to an
additional eight thousand three hundred thirty-three dollars ($8,333)
of the outstanding liability of the participant under one or more of
the designated loan programs, for a total loan assumption of up to
sixteen thousand six hundred sixty-six dollars ($16,666).
   (c) After a program participant has completed three consecutive
academic years, or the equivalent of full-time teaching, at one or
more regionally accredited California colleges or universities,
pursuant to Section 70102, the commission shall assume up to an
additional eight thousand three hundred thirty-four dollars ($8,334)
of the outstanding liability of the participant under one or more of
the designated loan programs, for a total loan assumption of up to
twenty-five thousand dollars ($25,000).
   (d) The commission may assume liability for loans received by the
program participant to pay  for  the costs of
obtaining the program participant's undergraduate and graduate
degrees.
   (e) The term of the loan assumption agreement shall be not more
than 10 years from the date on which the agreement was executed by
the program participant and the commission.