ARTICLE 13. Federal Family Education Loan Program
Heading of Article 13 amended by Stats. 1995, Ch. 758, Sec. 76.5.
§§ 69760–69779 · 29 sections
- § 69760 California is hereby authorized to participate in the Federal Family Education Loan Program for eligible postsecondary students and their parents, which…
- § 69761 (a) The purposes of California’s participation in the Federal Family Education Loan Program are as follows: (1) To ensure that, in meeting their educational…
- § 69761.5 The commission shall serve as a state student loan guarantee agency, pursuant to P.L. 94-482, and subsequent federal regulations, including, but not limited…
- § 69761.7 To promote responsible and timely repayment of guaranteed student loans, the commission shall establish a process to ensure regular, annual credit reporting on…
- § 69762 Loans made pursuant to this chapter shall be made without regard to race, religion, creed, sex, sexual orientation, gender identity, or gender expression.
- § 69763 (a) (1) The commission shall administer the Federal Family Education Loan Program as authorized pursuant to this chapter. The commission may enter into any…
- § 69763.1 (a) If a borrower defaults on a guaranteed student loan and the lender’s default claim has been paid, the Student Aid Commission shall fulfill the collection…
- § 69763.2 (a) The clerk, immediately upon the filing of the certificate specified in Section 69763.1, shall enter a judgment for the people of the State of California…
- § 69763.3 At any time before wages are garnished or a lien is placed on property, a borrower may pay the Student Aid Commission the amount of the recorded judgment, plus…
- § 69763.4 If the Student Aid Commission, or an authorized agent, has reasonable cause to believe that a lien on property may be jeopardized within the 10-day…
- § 69764 In the event that the amount of loans applied for under this article exceeds the amount of the loans that may be guaranteed pursuant to this article, the…
- § 69765 (a) The commission shall guarantee any student loan made pursuant to this article in the amount specified in federal statutes and regulations. (b) The…
- § 69766 (a) The Federal Student Loan Reserve Fund and the Student Loan Operating Fund are hereby created in the State Treasury. On January 1, 2000, the State…
- § 69766.1 (a) Notwithstanding Section 13340 of the Government Code, in addition to the purposes for which funds are appropriated pursuant to Section 69766, there is…
- § 69767 The Treasurer shall invest, pursuant to statute, any surplus money in the Federal Student Loan Reserve Fund and the Student Loan Operating Fund. The interest…
- § 69768 (a) The funds in the Federal Student Loan Reserve Fund and the Student Loan Operating Fund shall be paid out by the State Treasurer on warrants drawn by the…
- § 69769 The commission shall establish a Loan Advisory Council. The Loan Advisory Council shall be composed of 17 members, appointed by the commission, composed of…
- § 69769.3 (a) The Loan Advisory Council established pursuant to Section 69769 shall be composed of members appointed from the following groups: (1) Four representatives…
- § 69769.4 In addition to the members appointed to the Loan Advisory Council pursuant to Section 69769.3, the United States Department of Education may appoint one…
- § 69769.5 The Loan Advisory Council shall review the activities and policies of the Federal Family Education Loan Program and shall regularly advise the commission of…
- § 69769.7 (a) The Loan Advisory Council shall annually elect a chair and a vice chair from its membership. Representatives who serve on, or are employed or retained by,…
- § 69771 This article shall be applicable to the extent that its provisions do not conflict with Title IV of the Higher Education Act of 1965, or any extensions…
- § 69772 The commission shall annually report on the numbers of students participating in the program, total loan volume, and the postsecondary educational institutions…
- § 69774 (a) The commission shall provide, with each application form for the Federal Family Education Loan Program a notice to the student informing him or her that,…
- § 69775 The commission shall develop and distribute in cooperation with postsecondary educational institutions and private lenders, simple, common consumer information…
- § 69776 The commission may contract for all or part of administrative support services.
- § 69776.5 The commission may enter into contracts with a public agency or a private entity to improve the processing and distribution of guaranteed student loan…
- § 69777 The commission shall encourage private lenders to increase participation in the guaranteed student loan program.
- § 69779 The General Fund shall not be liable for any student loan made prior to the effective date of the chapter which enacts this section.