Notice: Undefined index: articledetail in /home/utils/securefiles/securecode/utl_article.cls.php on line 646
California Students Get Relief, 2007-2008 State Budget Passed |
College Loan Consolidation, Federal Loan Consolidation, Private Loan Consolidation, Student Loan Consolidation

America's Top Student Loan Provider

California Students Get Relief, 2007-2008 State Budget Passed
By Amit Agarwal
An impasse blocking the approval of the 2007-2008 California state budget that provoked widespread discontentment among students and parents was finally resolved on August 24. Governor Arnold Schwarzenegger approved the state budget after a 52-day deadlock, enabling students to access state grants just as their fall semesters began.

The budget released almost $11 million in grants to San Francisco State University (SFSU) students a few days before they started their classes, providing relief to those who depend on Cal Grants for their housing, textbook, and transportation needs.

For the University of California, the final budget allocated $3.27 billion (reflecting a 6.4% increase in funding from the previous year) for the fiscal year that began July 1.

The standoff resulted because 14 Republican state senators disagreed with parts of the budget and refrained from voting for its passage, preventing it from receiving approval by the required two-thirds majority. Finally, on August 21, Minority Leader Dick Ackerman and Senator Abel Maldonado decided to support the $145 billion budget.

During the standoff, the state controller's office accumulated about 60,000 unpaid claims submitted by hospital, school, and childcare programs. State education officials contend that there was a contingency plan in place to provide funding if the budget's approval was delayed further. Campuses with surplus funds were to provide loans to students that would have been repaid with Cal Grants.

As state legislators have missed the June 30 budget-approval deadline 13 times in the last 20 years, this year's delay did not come as a surprise to many.


Article Title : California Students Get Relief, 2007-2008 State Budget Passed
Comment not found for this article.

Related articles
• UCLA Gets Center on Climate Change
• Financial Aid is Available to Students
• Financial Aid Myths
• Pennsylvania State University Switches to Direct Loan Program
• What Are Private Student Loans Guaranteed by the State

Share this story:
  • BlinkList
  • blogmarks
  • Digg
  • Facebook
  • Google
  • Sphinn
  • MySpace
  • NewsVine
  • Simpy
  • StumbleUpon
  • Technorati
  • E-mail this story to a friend!
  • Print this article!
  • Faves
  • Furl
  • Netvouz
  • Slashdot
  • Spurl
  • Yahoo! Buzz

EdFed introduces… Awareness… Learnal
At, EdFed, we proudly introduce 'articles on student loans' and 'Learnal - the journal to learn from', our free newsletter on student loan management, which is sure to keep you informed of the latest events and happenings in the student loan market. To receive your copy of the above just use the RSS feed below and add this to your "My Yahoo", blogs, newstickers, and other similar channels accepting distributable content.
Click here to sign up for our Weekly Newswire now!

How EdFed Helped others!
Thank you for your help deciphering the code that is student loans. I was totally lost until I talked to one of your Loan Representatives, They were very helpful and saved me $254.77 a month on my private student loans. Thank you so much EdFed.
- Robert K.  South Bend, IN
* Your Name: * Your E-mail Address:

We respect your privacy.
* Your Friend's name: * Your Friend's E-mail address:
Include a Message:
+ Privacy Policy

Student Loan Consolidation Info - How to Choose the Right Loan Company

This column is sponsored by Granted, America's top job search engine. The Career Resources column is presented by Granted, America's leading job search engine dedicated to getting people jobs.

Education is one of the most basic right of any human, but with the increase in prices and the costs involved in education this has made these rights turn into a privilege which very few can enjoy. Any normal person today in the whole of United States has to take an education loan at one point of time to pay for their education fees.

read more
Schools Will No Longer Receive Paper FAFSA Forms
(September 20, 2007)

news desk
Stafford Loan Payment Calculator
PLUS Loan Payment Calculator
Loan Consolidation Payment Calculator
Glossary of Terms
Loan Comparison Chart
Scholarship Search
There are absolutely no fees for a federal consolidation loan.
US School Directory
Comprehensive List of Schools at which EdFed Assists Students.
EdFed is a FFELP lender with lender identification number 834241.
© Copyright 2020 EdFed. All Rights Reserved.

Home · About Us · Contact Us · News · Sitemap
Career Advice · Tell a Friend · Privacy Policy · Resume Service
Resume Distribution Service · Post Resume · Job Search Course
Sign up for the latest news on student loans.
Email Address:
+ Most Recent Newsletter
+ Newsletter Archives