Ed. Code, § 70038 · Article 23. California DREAM Loan Program
Ed. Code, § 70038
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) Each participating institution is entitled to an administrative cost allowance for an award year if the institution elects to advance funds under the DREAM Program to students for that award year.
(b) The amount of the administrative cost allowance described in subdivision (a) shall equal 5 percent of the institution’s total amount of DREAM loan funds awarded to students for the award year that the participating institution advances funds to students under the DREAM Program.
(c) Each participating institution may charge its administrative cost allowance to its DREAM revolving fund.
(d) Each participating institution shall use its administrative cost allowance to offset the cost of administering the DREAM Program.
(e) Each participating institution is responsible for administrative costs that exceed its administrative cost allowance.
Notes and commentary — not statutory text
History
Added by Stats. 2014, Ch. 754, Sec. 3. (SB 1210) Effective January 1, 2015.
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=70038.
- Text hash
- sha256 7318ba3d11680108fe8bc64f670744126854714bbd17ddbccdfa628bd87e372a
- 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.