California Education Code ARTICLE 5.5 - Graduate Assumption Program of Loans for Education

  • Section 69618.
    (a) The Legislature hereby recognizes the growing need for new faculty members at California’s colleges and universities. This need will be fueled largely by two factors:...
  • Section 69618.1.
    (a) Program participants shall meet all of the following eligibility criteria prior to selection in the program and shall continue to meet these criteria, as appropriate,...
  • Section 69618.2.
    The commission shall redeem an applicant’s warrant and commence loan assumption payments as specified in Section 69618.3 upon verification that the applicant has fulfilled all...
  • Section 69618.3.
    The terms of the loan assumptions granted under this article shall be as follows, subject to the specific terms of each warrant:(a) After a program participant...
  • Section 69618.4.
    (a) Except as provided in subdivision (b), in the event that a program participant fails to complete a minimum of three consecutive academic years of teaching...
  • Section 69618.5.
    (a) The commission shall accept nominations from accredited colleges and universities made pursuant to Section 69618.1.(b) The commission shall choose from among those nominations deemed financially needy...
  • Section 69618.6.
    The commission shall administer this article, and shall adopt rules and regulations for that purpose. The rules and regulations shall include, but need not be...
  • Section 69618.7.
    The commission shall work in conjunction with lenders participating in the Federal Family Education Loan Program to develop a streamlined application process for participation in...
  • Section 69618.8.
    The commission shall report annually to the Legislature on this program. The report shall include, but not be limited to, the following:(a) The total number of...
  • Section 69618.9.
    Commencing with the 1998–99 fiscal year, the commission shall issue warrants for the assumption of up to 500 student loans for program participants eligible under...
  • Section 69619.
    It is the intent of the Legislature that, commencing with the 1998–99 fiscal year, funding necessary for the administration of this student loan assumption program...

Last modified: October 22, 2018