BILL NUMBER: AB 2402	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Members Olsen and Baker

                        FEBRUARY 19, 2016

   An act relating to loan assumption.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 2402, as introduced, Olsen. Student financial aid: loan
assumption.
   Existing law establishes an assumption program of loans for
education, administered by the Student Aid Commission, under which
any person enrolled in a participating institution of postsecondary
education, or any person who agrees to participate in a teacher
trainee or teacher internship program, is eligible to enter into an
agreement for loan assumption, to be redeemed pursuant to a
prescribed procedure upon verification of the applicant becoming
employed as a teacher and satisfying certain conditions.
   Existing law also 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 state the intent of the Legislature to enact
legislation that would amend the Education Code relating to loan
assumption.
   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.  It is the intent of the Legislature to enact
legislation that would amend the Education Code relating to loan
assumption.