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CA AB1767

Bill

Status

Engrossed

5/29/2018

Primary Sponsor

Sabrina Cervantes

Click for details

Origin

State Assembly

2017-2018 Session

AI Summary

  • Establishes the California Kickstart My Future Loan Forgiveness Program under the Student Aid Commission to provide loan forgiveness for recent college graduates with federal student loan debt.

  • Eligible applicants must have graduated from a California college/university in or after the 2017-18 academic year, applied within two years of graduation, be enrolled in a federal income-driven repayment plan, have income under $50,000, work in California, and not be in default on any student loans.

  • Provides eligible recipients with student loan forgiveness awards equal to 100% of their monthly federal income-driven repayment plan payments for 24 months, subject to available appropriation.

  • Allows deferment of awards during federal deferment or forbearance periods, with remaining time eligibility upon completion.

  • Requires recipients who no longer meet eligibility requirements to refund payments to the state, with the Franchise Tax Board authorized to recover amounts owed.

Legislative Description

California Kickstart My Future Loan Forgiveness Program.

Last Action

In committee: Held under submission.

8/16/2018

Committee Referrals

Appropriations6/20/2018
Education6/7/2018
Rules5/30/2018
Appropriations3/14/2018
Higher Education1/22/2018

Full Bill Text

No bill text available