How SB 15 is Funded
SB 15: A Plan for Higher Education in California
(dollars in millions)
| Proposal | Cost | ||
|---|---|---|---|
| 2015-16 | 2016-17 | 2017-18 | |
| Incentive Grant for CSU Students1 | $48 | $70 | $100 |
| Maintain Cal Grant awards for students at nonprofit colleges at current level2 | $9 | $17 | $24 |
| Increase Cal Grant B access awards3 | $- | $- | $- |
| Increase the number of competitive Cal Grants awards from 22,500 to 30,0004 |
$22 | $37 | $47 |
| Fund enrollment growth at UC and CSU5 | $113 | $113 | $113 |
| Expand student support services to help more students succeed and graduate on time, including providng $25 million each to UC/CSU for course offerings. | $150 | $150 | $150 |
| Total | $342 | $387 | $434 |
| Funding Source | |||
| Transition Middle Class Scholarship program into initiatives more likely to improve student success6,7 | $102 | $193 | $285 |
| Increase UC nonresident tuition | $82 | $82 | $82 |
| Increase state General Fund investment | $158 | $111 | $66 |
| Total | $342 | $387 | $434 |
1Based on roughly 1/2 of CSU Cal Grant students receiving $2,000 grant (annual growth of 10%)
2Upon full implementation, 2018-19, $28.8 million
3Funded through the College Access Tax Credit
4Upon full implementation, 2018-19, $53.5 million
5Assumes growth of 2.4% at UC/3% at CSU (5,000 FTES at UC/10,500 FTES at CSU)
6Doesn't include MCS funds potentially available from the current-year
7Includes grandfathering out of current recipients