Existing law establishes the Assumption Program of Loans for Education, administered by the Student Aid Commission, under which any person enrolled in an eligible institution of postsecondary education, or any person who agrees to participate in a teacher trainee or teacher internship program, is eligible to enter into an agreement for loan assumption, to be redeemed pursuant to a prescribed procedure upon becoming employed as a teacher in an eligible school, if the teacher satisfies certain conditions. The program provides additional loan assumption benefits of $1,000 or $2,000 per year in assumed liability, as specified, to a person who holds a credential appropriate for teaching, and who teaches, mathematics, science, or special education in certain percentiles of Academic Performance Index (API) rankings.
This bill would repeal the
additional loan assumption benefits that rely on API rankings, and instead provide additional loan assumption benefits of an unspecified amount to a person who holds a credential appropriate for teaching, and who teaches, mathematics, science, special education, bilingual education, or career technical education in a school district that is determined to be in need of differentiated assistance, as specified. The bill would express the intent of the Legislature to restore the funding for the Assumption Program of Loans for Education to its 2011–12 fiscal year level. The bill would require the commission to award 7,200 new warrants for the assumption of loans under the program in the 2019–20 2020–21 fiscal year. The
bill would appropriate $5,000,000 from the General Fund to the commission for the funding of warrants for the assumption of loans under the program for the 2019–20 2020–21 fiscal year.
This bill would declare that it is to take effect immediately as an urgency statute.