CA AB853

Authorizes the Golden State Scholarshare College Savings Trust to make payments to third parties in addition to institutions of higher education pursuant to participation agreements on behalf of beneficiaries.

Requires the board to develop methods to make payments of qualified higher education expenses directly to higher education institutions or other third parties while controlling for fraud.

Establishes that institutions of higher education or other third parties obtain ownership of payments made for higher education expenses at the time each payment is made to them.

Permits the board to develop alternative methods to make payments of qualified higher education expenses directly to beneficiaries consistent with applicable federal requirements and restrictions.