CA SB354

Expands California DREAM Loan Program eligibility to students enrolled in graduate and professional degree programs (including teaching credentials) starting with the 2020–21 academic year, in addition to existing undergraduate program eligibility.

Requires participating institutions to determine the proportion of program funding allocated between instructional programs and graduate programs, with priority given to loans for instructional programs.

Adds requirement that students in graduate programs must be enrolled in a state-supported graduate or professional degree program to qualify for DREAM loans.

Maintains existing DREAM loan limits of $4,000 per academic year and $20,000 aggregate per institution, with interest rates tied to federal William D. Ford Direct Loan Program rates.