The California Educational Facilities Authority (CEFA) provides qualified nonprofit higher education institutions with assistance to reduce the costs of financing academic facilities through a tax-exempt revenue bond program. CEFA may also issue bonds, notes, and other forms of indebtedness for student loans to support students' higher education costs.
CEFA consists of the following five members: the Director of Finance, the State Controller, the State Treasurer, and two public members appointed by the Governor.