Public postsecondary education: admission: labor market outcome and student loan information., the official text

An act to add Section 66014.9 to the Education Code, relating to public postsecondary education.

LEGISLATIVE COUNSEL'S DIGEST

Existing law establishes the California State University and the University of California as 2 of the segments of public postsecondary education in this state. Existing law requires the California State University, and requests the University of California, to publicly provide labor market outcome information relating to the graduates of their undergraduate programs.
This bill would require the California State University, and would request the University of California, to include in admission notifications (1) a hyperlink to the university’s internet website that contains the labor market outcome information described above, and (2) information on student loans, as specified.

The people of the State of California do enact as follows:

SECTION 1.
Section 66014.9 is added to the Education Code, to read:
66014.9.
The California State University shall, and the University of California is requested to, include in admission notifications both of the following:
(a) A hyperlink to the university’s internet website that contains the labor market outcome information, as described in Section 66014.3.
(b) Information on student loans, including both of the following:
(1) The federal student loans statement required in all printed and online financial aid materials issued or distributed by the institution to applicants for admission or matriculated students, as described in Section 69800.
(2) (A) An explanation that public and private student loans have a range of interest rates and fees.
(B) The explanation described in subparagraph (A) shall include a hypothetical example that illustrates how different payment schedules can impact the total interest paid by the student for the life of the loan.