CA AB1677

Establishes a loan assumption program for nursing students who work full-time for 4 consecutive years as clinical registered nurses or licensed vocational nurses in eligible public facilities, including state hospitals, veterans' homes, and health care districts.

Provides up to $15,000 in annual loan assumption (maximum $60,000 total) for participants who complete each year of the 4-year service requirement at qualifying facilities.

Appropriates $48,000,000 from the General Fund to the Student Aid Commission for loan assumption awards from fiscal year 2015-16 through 2021-22, with $3-12 million authorized annually based on the program phase.

Requires the Student Aid Commission to report annually to the Legislature on participant numbers and completion rates, and mandates the Legislative Analyst to submit an efficacy report by May 1, 2019.

Program becomes inoperative July 1, 2022 and is repealed January 1, 2023, unless a later statute extends these dates.