AB 2507: Student financial aid: Students at Risk of Homelessness Emergency Pilot Program.

Existing law establishes the Student Aid Commission as the primary state agency for the administration of state-authorized student financial aid programs available to students attending all segments of postsecondary education.

Existing law establishes the University of California, under the administration of the Regents of the University of California, as one of the segments of public postsecondary education in this state. The University of California provides instruction and performs research at the 10 campuses it operates and maintains in Berkeley, Davis, Irvine, Los Angeles, Merced, Riverside, San Diego, San Francisco, Santa Barbara, and Santa Cruz.

Existing law establishes the California State University, under the administration of the Trustees of the California State University, as one of the segments of postsecondary education in the state. The California State University comprises 23 institutions of higher education located throughout the state, including California State University, Northridge.

Existing law establishes the California Community Colleges, under the administration of the Board of Governors of the California Community Colleges, as one of the segments of public postsecondary education in this state. The board of governors appoints the Chancellor of the California Community Colleges to serve as the segments chief executive officer. The segment comprises 73 community college districts and a total of 116 community colleges throughout the state. One of these colleges is Glendale Community College.

This bill, until January 1, 2029, would establish the Students at Risk of Homelessness Emergency Pilot Program under the administration of the commission to award interest-free loans for housing and college attendance costs to eligible undergraduate students attending the University of California, Los Angeles, the University of California, Merced, the California State University, Northridge, and Glendale Community College who demonstrate financial need, as defined. The bill would require the commission to enter into a contract with a nonprofit organization that has existed for more than 50 years and operates an interest-free loan program virtually in the state for the nonprofit organization to award loans to eligible students. The bill would create the Emergency Students Facing Housing Crisis and Homelessness Revolving Fund as the initial depository of all moneys appropriated, donated, or otherwise received for the program, and upon appropriation by the Legislature, would require the commission to distribute moneys in the fund to the nonprofit organization to award loans to eligible students. The bill would require the nonprofit organization to annually report to the commission the number of students who qualified for a loan and the number of students awarded a loan. The bill would require the commission to submit an annual report to the Legislature that includes this information.