CA AB2345

Creates the California Health Care Workforce Supplemental Loan Program to provide state loans to medical and nursing students attending accredited California schools

Responds to federal "One Big Beautiful Bill Act" changes effective July 1, 2026, which eliminated federal grad PLUS loans and capped borrowing at $50,000/year for medical students and $20,500/year for nursing students

Loans cover the gap between federal loan limits and full cost of attendance, with terms matching federal grad PLUS loans as of January 20, 2025: fixed interest rate (10-year Treasury note + 4.60%, capped at 10.5%) and maximum 4.228% origination fee

Eligible students must be California residents, enrolled at least half-time in a California medical or nursing school, and have maximized federal unsubsidized loan borrowing

Establishes the Health Care Workforce Supplemental Loan Fund in the State Treasury, with annual legislative appropriations required for lending capital and administration