Student financial aid: Pay-It-Forward Financial Aid Program.
- Establishes a new college financing program allowing CSU and UC students to attend without paying upfront costs.
- Requires graduates to repay a percentage of their income instead of taking traditional student loans.
- Creates a dedicated fund to support future students using repayments from program graduates.
- Mandates at least 10,000 students must participate annually starting in the 2030-31 academic year.
Assembly Member Schiavo's Pay-It-Forward Financial Aid Program legislation proposes an alternative financing model for California State University and University of California students, allowing them to defer tuition, fees, and room and board costs in exchange for future income-based payments. Under the program, participating students would sign contracts committing to pay a percentage of their annual adjusted gross income after graduation or leaving school, with payments capped at the total amount received.
The bill establishes a dedicated Pay-It-Forward Financial Aid Fund to collect graduate payments and finance future students' education costs through legislative appropriation. The Department of Education would determine specific repayment terms, including the percentage of income and duration, while maintaining authority to accept additional funding through gifts, grants, and other sources. The program explicitly supplements rather than replaces existing financial aid options like grants, scholarships, and loans.
Implementation would occur in phases, with all CSU and UC campuses required to offer the program beginning in the 2028-29 academic year. By 2030-31, the systems must ensure at least 10,000 students participate annually. The legislation tasks the Department of Education with developing necessary regulations in consultation with the Student Aid Commission, CSU, and UC. According to the bill's findings, California students currently graduate with average loan debt of $21,125, while residents collectively owe over $142 billion in student loans as of 2020.
This bill was recently introduced. Email the authors to let them know what you think about it.
Introduced By
Latest Voting History
 Al MuratsuchiD Assembly Member | Committee Member |  Not Contacted | |
 Mia BontaD Assembly Member | Committee Member | Not Contacted | |
 David AlvarezD Assembly Member | Committee Member | Not Contacted | |
 Dawn AddisD Assembly Member | Committee Member | Not Contacted | |
 Josh HooverR Assembly Member | Committee Member | Not Contacted |
- Establishes a new college financing program allowing CSU and UC students to attend without paying upfront costs.
- Requires graduates to repay a percentage of their income instead of taking traditional student loans.
- Creates a dedicated fund to support future students using repayments from program graduates.
- Mandates at least 10,000 students must participate annually starting in the 2030-31 academic year.
This bill was recently introduced. Email the authors to let them know what you think about it.
Introduced By
Assembly Member Schiavo's Pay-It-Forward Financial Aid Program legislation proposes an alternative financing model for California State University and University of California students, allowing them to defer tuition, fees, and room and board costs in exchange for future income-based payments. Under the program, participating students would sign contracts committing to pay a percentage of their annual adjusted gross income after graduation or leaving school, with payments capped at the total amount received.
The bill establishes a dedicated Pay-It-Forward Financial Aid Fund to collect graduate payments and finance future students' education costs through legislative appropriation. The Department of Education would determine specific repayment terms, including the percentage of income and duration, while maintaining authority to accept additional funding through gifts, grants, and other sources. The program explicitly supplements rather than replaces existing financial aid options like grants, scholarships, and loans.
Implementation would occur in phases, with all CSU and UC campuses required to offer the program beginning in the 2028-29 academic year. By 2030-31, the systems must ensure at least 10,000 students participate annually. The legislation tasks the Department of Education with developing necessary regulations in consultation with the Student Aid Commission, CSU, and UC. According to the bill's findings, California students currently graduate with average loan debt of $21,125, while residents collectively owe over $142 billion in student loans as of 2020.
Latest Voting History
Al MuratsuchiD Assembly Member | Committee Member | Not Contacted | |
Mia BontaD Assembly Member | Committee Member | Not Contacted | |
David AlvarezD Assembly Member | Committee Member | Not Contacted | |
Dawn AddisD Assembly Member | Committee Member | Not Contacted | |
Josh HooverR Assembly Member | Committee Member | Not Contacted |