CA AB2787

Extends the Middle Class Scholarship Program to undergraduate students enrolled in participating private nonprofit postsecondary educational institutions, effective with the 2017-18 academic year.

Scholarship awards for private nonprofit institution students equal up to 40% of the maximum Cal Grant award for which they qualify, rather than a percentage of tuition and fees.

Requires participating private nonprofit institutions to maintain institutional need-based grant funding at levels equal to or greater than those provided in the 2013-14 academic year.

Maintains the $159,000,000 annual appropriation to the Middle Class Scholarship Fund for the 2017-18 fiscal year and each fiscal year thereafter to cover scholarships for all eligible students across UC, CSU, and participating private institutions.

Participating private nonprofit institutions must be "qualifying institutions" as defined in existing law and must formally notify the Student Aid Commission of their decision to participate in the program.