CA SB860

Increases Cal Grant A and B maximum awards for private nonprofit institutions to $9,084 for 2014-15 only (reverting to $8,056 thereafter), and raises the cohort default rate threshold from 10% to 15.5% for institutions with 20-30% graduation rates.

Establishes the Middle Class Scholarship Program providing up to 40% of systemwide tuition and fees for undergraduate students at UC and CSU with household incomes up to $150,000, with minimum award of $90 for full-time students.

Creates student equity plans requirement for community colleges as condition of Student Success and Support Program funding, including campus-based research on student equity by demographic groups and goals for access and completion.

Authorizes California State University to pledge General Fund appropriations to secure revenue bonds for capital expenditures and fund debt service and pay-as-you-go capital projects, subject to Department of Finance approval and a 12% cap on General Fund support.

Expands CalWORKs Recipients Education Program funding for special services including job placement, child care, instruction, and case management for current and former CalWORKs recipients at community colleges.