CA SB633

Establishes DREAM grant program beginning with the 2024-25 academic year, allowing participating UC and CSU campuses to award grants to grant-eligible students using unawarded funds from their DREAM revolving funds.

Defines "grant-eligible student" as a student who completed a Dream Act Application and has been previously awarded a Cal Grant, Middle Class Scholarship, or institutional need-based financial aid.

Limits DREAM grants to an amount not exceeding a student's financial need, with individual grant amounts determined by each institution and priority given to students in instructional programs.

Specifies that DREAM grants do not count toward annual or aggregate borrowing limits established for the California DREAM Loan Program.

Requires participating institutions to award DREAM grants during the academic year immediately following the year in which unawarded fund balances existed in the DREAM revolving fund.