CA AB2507

Establishes the Students at Risk of Homelessness Emergency Pilot Program through January 1, 2029, administered by the Student Aid Commission to award interest-free loans for housing and college attendance costs to eligible undergraduate students.

Eligible institutions include UCLA, UC Merced, California State University Northridge, and Glendale Community College; students must demonstrate financial need (Pell Grant eligibility, expected family contribution of $20,000 or less, facing eviction, homelessness, or food insecurity) and be enrolled at least part-time.

Commission must contract with a nonprofit organization operating an interest-free loan program in California for at least 50 years to award loans, determine student eligibility, and set loan amounts not exceeding reasonable housing and college attendance costs.

Loans carry no interest rate, no fees, and standard repayment terms of no more than 10 years; students in default on federal, state, or institutional student loans are ineligible.

Nonprofit organization must submit annual reports to the Commission on the number of students who qualified and received loans, disaggregated by institution and student demographics; Commission reports this information annually to the Legislature.