SB 1417, as introduced, Galgiani. Public postsecondary education: student loan payment program.
Existing law establishes the University of California, under the administration of the Regents of the University of California, and the California State University, under the administration of the Trustees of the California State University, as 2 of the segments of public postsecondary education in this state.
This bill would require the trustees, and would request the regents, to develop and implement a program to provide an incentive, as defined, to qualified students, as defined, who complete an undergraduate degree within 4 years at a campus of their respective system.
Vote: majority. Appropriation: no. Fiscal committee: yes. State-mandated local program: no.
The people of the State of California do enact as follows:
Chapter 4 (commencing with Section 70120) is
2added to Part 42 of Division 5 of Title 3 of the Education Code,
3to read:
(a) The Trustees of the California State University
4shall develop and implement a program to provide an incentive to
5qualified students who complete an undergraduate degree within
6four years at a campus of the California State University.
7(b) The Regents of the University of California are requested
8to develop and implement a program to provide an incentive to
9qualified students who complete an undergraduate degree within
10four years at a campus of the University of California.
11(c) For purposes of this section, both of the following definitions
12apply:
13(1) “Incentive” means a one-time
14two-thousand-five-hundred-dollar
($2,500) payment towards the
15eligible student’s outstanding student loan debt.
16(2) “Qualified student” means a student meeting the
17requirements set forth in Section 68130.5.
O
99