CA SB1264

Establishes the Educator Excellence Program (EEP) under the Student Aid Commission to provide loan assumption agreements for teachers in shortage areas and schools with high concentrations of low-income students.

Authorizes up to 6,500 loan assumption agreements per school year (including up to 400 for credentialed teachers), with a maximum of $11,000 in loan assumption after 4 years of qualifying teaching service.

Requires participants to teach full-time for at least 4 consecutive academic years in school districts qualifying for local control funding formula concentration grants, in designated teacher shortage areas as determined by the Superintendent.

Provides loan assumption payments progressively: $2,000 after year 1, additional $3,000 after year 2 ($5,000 total), additional $3,000 after year 3 ($8,000 total), and additional $3,000 after year 4 ($11,000 total).

Includes provisions for deferrals due to illness, pregnancy, military service, layoffs, and natural disasters; requires participants to maintain eligibility criteria and prohibits participants from entering more than one agreement under the program.