California DREAM Loan Program
Undocumented students do not have access to federal loans, as a result, they have a “gap” in their financial aid packages of roughly $5,000 to $6,000 at the UC and $3,000 at the CSU. This financial situation is unique to undocumented students because they cannot get loans to cover this gap in funding. SB 1210 will establish the California DREAM Loan Program to serve UC and CSU students. Loan limits, interest rates, and eligibility requirements would be no more favorable than those available to documented students through federal loan programs.
Who is eligible?
Students that meet the AB540/130/131 eligibility requirements and lack access to federal student loans. Still not confirmed how much funding will be made available to students, and whether or not ALL eligible students will be able to benefit from SB1210.
NOTE: SB1210 has passed, however it is not yet in effect. Please wait for more information to be released.