Added by Stats. 2023, Ch. 622, Sec. 2. (SB 633) Effective January 1, 2024.
(a)It is the intent of the Legislature to establish the DREAM grant program.
(b)Commencing with the 2024–25 academic year, a grant-eligible student attending a participating institution may receive a DREAM grant pursuant to this section.
(c)Each participating institution may award DREAM grants to grant-eligible students if that institution has unawarded funds in the institution’s DREAM revolving fund that were new state, institutional matching, or loan repayment funds deposited during the previous academic year pursuant to Section 70035.
(d)DREAM grants shall be provided during the academic year immediately
following the academic year in which there was an unawarded DREAM revolving fund balance.
(e)In a given academic year, a DREAM grant shall not exceed a student’s financial need.
(f)The amount of a DREAM grant offered to an individual student by a participating institution shall be determined by the institution. Priority shall be given to DREAM grants for instructional programs.
(g)A DREAM grant awarded pursuant to this section shall not count
towards the annual and aggregate borrowing limits described in subdivision (a) of Section 70034.
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