California Student Aid Commission Takes Action to Protect California's Students

RANCHO CORDOVA, Calif., Sept. 22 /PRNewswire/ -- The California Student Aid Commission (Commission) met today to discuss and take action on its response to the United States Department of Education's decision to terminate the Commission's student loan guarantee program agreement.

Commission Chair Barry Keene issued the following statement:

In order to protect the current and future students of California, the Commission, by a majority vote, has taken decisive action to appeal the U.S. Department of Education's decision to terminate the California Student Aid Commission's guaranty agreement.  

This action by the U.S. Department of Education puts at risk financial aid to 330,000 California students and disrupts services that support the Cal Grant program and the other specialized federal and state financial aid programs administered by the Commission.

Our goal is to ensure that maximum funding remains available to the state of California to support the Cal Grant program and that California and its students' future are not jeopardized. Recently, the Legislative Leadership expressed its serious concerns about the action taken by the U.S. Department of Education; we the Commission, as the guaranty agency, ask that the U.S. Department of Education's action be rescinded in order to protect the interests of the students of California.

The California Student Aid Commission is the principal state agency responsible for administering financial aid programs for students attending public and private universities, colleges, and vocational schools in California. The Commission will distribute over $1 billion to California's college students during the 2009-10 academic year through its Cal Grant, specialized and loan forgiveness programs. The Commission also administers financial aid awareness and outreach programs, such as Cal-SOAP and Cash for College, in collaboration with business, private industry and community-based organizations.

SOURCE California Student Aid Commission

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