Section 70038 Of Article 23. California Dream Loan Program From California Education Code >> Division 5. >> Title 3. >> Part 42. >> Chapter 2. >> Article 23.
70038
. (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.