CaliforniaCalifornia DREAM Loan Program: limits.
What it does
Existing law establishes the California DREAM Loan Program, which authorizes a student attending a participating campus of the University of California or California State University to receive a loan, referred to as a DREAM loan, if the student satisfies certain requirements. Existing law prohibits a student from borrowing more than $4,000 within a single academic year and more than $40,000 in the aggregate under the program. Existing law prohibits a student enrolled in an undergraduate program from borrowing more than $20,000 as an undergraduate student and prohibits a student enrolled in a graduate program from borrowing more than $20,000 as a graduate student.
More detail
This bill would instead prohibit a student enrolled in an undergraduate program from borrowing more than $4,000 within a single academic year, and a student enrolled in a graduate program from borrowing more than $20,500 within a single academic year. The bill would increase the aggregate limit under the program for a student enrolled in a graduate program to $118,500 as a graduate student, while maintaining the $20,000 aggregate limit under the program for a student enrolled in an undergraduate program, thereby increasing the overall aggregate limit under the program for a student who receives a DREAM loan for both undergraduate and graduate enrollment to $138,500.
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Where it stands
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Oct 13Chaptered by Secretary of State - Chapter 702, Statutes of 2025.Latest
- Oct 13Approved by the Governor Gavin Newsom.Became Law
- Sep 11Enrolled and presented to the Governor at 4 p.m.To Governor
- Sep 4In Assembly. Ordered to Engrossing and Enrolling.Minor
- Vote recorded 3rd Reading AB681 Elhawary By Pérez. Result: pass.Upper
- Sep 4Read third time. Passed. Ordered to the Assembly. (Ayes 30. Noes 9. Page 2516.).Passed Senate
- Aug 29Read second time. Ordered to third reading.Minor
- Vote recorded Do pass. Result: pass.Upper
- Aug 29From committee: Do pass. (Ayes 5. Noes 2.) (August 29).Minor
- Jun 23In committee: Referred to suspense file.Minor
- Vote recorded Placed on suspense file. Result: pass.Upper
- Jun 11From committee: Do pass and re-refer to Com. on APPR. (Ayes 5. Noes 1.) (June 11). Re-referred to Com. on APPR.Minor
- Vote recorded Do pass, but first be re-referred to the Committee on [Appropriations]. Result: pass.Upper
- May 14Referred to Com. on ED.Minor
- May 6In Senate. Read first time. To Com. on RLS. for assignment.Minor
- May 5Read third time. Passed. Ordered to the Senate. (Ayes 61. Noes 10. Page 1419.)Passed Assembly
- Vote recorded AB 681 Elhawary Assembly Third Reading. Result: pass.Lower
- Apr 10Read second time. Ordered to third reading.Minor
- Apr 9From committee: Do pass. (Ayes 10. Noes 4.) (April 9).Minor
- Vote recorded Do pass. Result: pass.Lower
- Mar 19From committee: Do pass and re-refer to Com. on APPR. (Ayes 8. Noes 2.) (March 18). Re-referred to Com. on APPR.Minor
- Mar 18
- Vote recorded Do pass and be re-referred to the Committee on [Appropriations]. Result: pass.Lower
- Mar 3Referred to Com. on HIGHER ED.Minor
- Feb 15From printer. May be heard in committee March 17.
- Feb 14Read first time. To print.Introduced