Higher Education
Sale of EdFund

Chapter 182, Statutes of 2007 authorized the sale, or other transaction, of the Student Aid Commission's loan guarantee function and nonprofit auxiliary organization, collectively known as EdFund, in order to maximize the value of the state's assets related to implementation of the Federal Family Education Loan Program. The sale is anticipated to generate a significant amount to help balance future budgets. Although the sale has been postponed due to a variety of factors affecting the loan guaranty industry, the Administration is continuing its efforts, pursuant to trailer bill legislation that extends the sale authorization, and anticipates that a sale will be completed no later than the 2009-10 fiscal year. Recently, an RFP for a new sale advisor was released. As a consequence of this prospective transaction, the budget resumes General Fund resources to finance the Commission's state operations budget.
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CHAPTER HIGHLIGHTS for Higher Education Back to Top

 UC and CSU Fees and Enrollments
 Community Colleges
 Career Technical Education Initiative
 Nurse Education Initiative
 CCC Student Success Initiative
image of black pointing arrowSale of EdFund
 University of California
 California State University
 California Community Colleges
 Hastings College of the Law
 Student Aid Commission
PRINTABLE BUDGET DOCUMENTS Back to Top
Enacted Budget Summary - Higher Education (pdf * - 195K) -
Provides the entire Higher Education Chapter in pdf format.
ADDITIONAL INFORMATION Back to Top
Enacted Budget Detail - Higher Education
Displays Enacted Budget Detail information for Higher Education.