CA SB685

Establishes the Financial Assistance for Students Experiencing Homelessness Pilot Program at 4 California State University campuses (one each from Central California, Northern California, southern San Francisco Bay area, and Southern California) beginning in the 2026-27 academic year

Provides financial assistance covering the remaining balance of a qualifying student's cost of attendance after all other financial aid (excluding federal loans) for up to 4 years of enrollment

Qualifying students must be California residents aged 17-26 who were identified as homeless at any point during high school (grades 9-12) under the federal McKinney-Vento Homeless Assistance Act

Recipients must be enrolled full-time pursuing their first bachelor's degree, maintain satisfactory academic progress, and complete FAFSA or California Dream Act applications

Requires the CSU Chancellor's Office to submit a report to the Legislature by December 31, 2030 evaluating the program's impact on retention rates, housing attainment, and food insecurity; the program sunsets on July 1, 2031