California Education Code

§ 70035

EDC § 70035 Effective Jan 1, 2023Div. 5 · Title 3 · Part 42 · Ch. 2 · Art. 23

Statute text

(a)It is the intent of the Legislature that, each fiscal year, funds shall be appropriated in the annual Budget Act to participating institutions for purposes of the DREAM Program.

(b)The annual Budget Act shall allocate funding to participating institutions based on the number of eligible students attending the institution who applied for student financial aid pursuant to Section 69508.5 the prior academic year.

(c)(1) Each participating institution shall deposit funds appropriated pursuant to subdivision (a) in a DREAM revolving fund established by each institution, subject to subdivision (e). DREAM loans shall be awarded from, and DREAM loan repayments shall be deposited into, these revolving funds.

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Legislative history

Amended by Stats. 2022, Ch. 484, Sec. 3. (AB 2004) Effective January 1, 2023.