CA AB140

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

Eligible applicants must have graduated with an undergraduate degree from a California-based college or university in or after 2018–19, applied within two years of graduation, and have income under $50,000.

Provides awards equal to 100% of monthly federal income-driven repayment plan payments for 24 months, subject to available appropriation.

Recipients must participate in a federal income-driven repayment plan with approximately 10% of discretionary income payments, work in California if employed, and not be in default on any student loans.

Recipients who no longer meet eligibility requirements must refund payments received, with the Franchise Tax Board authorized to recover amounts owed.