Ed. Code, § 69521 · Article 2.4. Maximizing the Value of the State Student Loan Guarantee Program Assets and Liabilities
Ed. Code, § 69521
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) The Legislature finds and declares both of the following:
(1) The student loan guarantee business is not a core mission of government. Recognition of this fact led, in 1996, to the approval of the establishment of an auxiliary organization for the purpose of providing operational and administrative services for the Student Aid Commission’s participation in the Federal Family Education Loan Program.
(2) Pursuant to that authority, an auxiliary organization was established to provide, pursuant to contract, certain services to the Student Aid Commission.
(b) It is the intent of the Legislature that the value of the auxiliary organization’s arrangement with the Student Aid Commission and the Student Aid Commission’s participation in the Federal Family Education Loan Program be maximized through either of the following:
(1) The sale of the state’s interest in the student loan guarantee portfolio of the Student Aid Commission and certain related assets and liabilities of the student loan guarantee program operated by the Student Aid Commission, to a firm approved to act as a state student loan guarantee agency for the Federal Family Education Loan Program by the Secretary of Education.
(2) The entry into an arrangement for the operation of the state student loan guarantee program by an entity meeting the financial and compliance standards established for the Federal Family Education Loan Program.
Notes and commentary — not statutory text
History
Added by Stats. 2007, Ch. 182, Sec. 1. Effective August 24, 2007.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=EDC§ionNum=69521.
- Text hash
- sha256 9b0f91c244777a317516443a878f62708893665785e7a2edb27be3e413245b8a
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.