California § 69613.4. 69613.4. (Amended by Stats. 2008, Ch. 516, Sec. 8.)

California Statutes

§ 69613.4. — 69613.4. (Amended by Stats. 2008, Ch. 516, Sec. 8.)

California·Code EDC Education Code - EDC·Div. 5.·Title 3. DIVISION 5. GENERAL PROVISIONS·Part 42. PART 42. STUDENT FINANCIAL AID PROGRAM·Ch. 2. CHAPTER 2. Student Financial Aid Programs·Art. 5. ARTICLE 5. Assumption Program of Loans for Education

(a)The terms of a loan assumption granted under this article shall be as follows, subject to the specific terms of each agreement:

(1)After a program participant has completed one school year of classroom instruction pursuant to Section 69613.2, the commission shall assume up to two thousand dollars ($2,000) of the participant’s outstanding liability under one or more of the designated educational loan programs.

(2)After a program participant has completed two consecutive school years of instruction, the commission shall assume up to an additional three thousand dollars ($3,000) of the participant’s outstanding liability under one or more of the designated educational loan programs, for a total loan assumption of up to five thousand dollars ($5,000).

(3)After a program participant has

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(a)
The terms of a loan assumption granted under this article shall be as follows, subject to the specific terms of each agreement:
(1)
After a program participant has completed one school year of classroom instruction pursuant to Section 69613.2, the commission shall assume up to two thousand dollars ($2,000) of the participant’s outstanding liability under one or more of the designated educational loan programs.
(2)
After a program participant has completed two consecutive school years of instruction, the commission shall assume up to an additional three thousand dollars ($3,000) of the participant’s outstanding liability under one or more of the designated educational loan programs, for a total loan assumption of up to five thousand dollars ($5,000).
(3)
After a program participant has completed three consecutive school years of teaching service, the commission shall assume up to a maximum of an additional three thousand dollars ($3,000) of the participant’s outstanding liability under one or more of the designated educational loan programs, for a total loan assumption of up to eight thousand dollars ($8,000).
(4)
After a program participant has completed four consecutive school years of teaching service, the commission shall assume up to a maximum of an additional three thousand dollars ($3,000) of the participant’s outstanding liability under one or more of the designated educational loan programs, for a total loan assumption of up to eleven thousand dollars ($11,000).
(b)
For purposes of this section, “school year” means at least 175 school days or its equivalent.
(c)
An applicant who teaches on less than a full-time basis may participate in the program, but shall not be eligible for loan repayment until that person teaches for the equivalent of a full-time academic year.

California § 69613.4. (69613.4. (Amended by Stats. 2008, Ch. 516, Sec. 8.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.