Legal Resources | Title 5 | 56258
Subchapter 2.5. Extended Opportunity Programs And Services. Article 4. Eops Financial Aid Standards. Emergency Loans.
EOPS programs may establish an emergency loan program for EOPS students to meet unexpected or untimely costs for books, college supplies, transportation and housing, subject to the following provisions:
(a) loans may not exceed $300 in a single academic year and must be repaid within the academic year in which the loan was made.
(b) loan funds shall be held in a separate account established by the district for that purpose; collected funds and interest earned shall be credited to the loan account and all loan funds may be carried over fiscal years for the life of the loan program.
(c) the total amount held for the loan program may not exceed three times the amount originally set aside to establish the program. Amounts in excess of this limit, or the total amount held when the program is terminated, shall be returned to the Chancellor.
Authority cited:
Education Code 69648
Education Code 70901
Reference:
Education Code 69640 et seq.
(Amended by Register 2006, No. 17.)