CA AB-721 CA AB-721

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Information about Student Financial Aid: Private Student Loans CA AB-721

CA-AB 721 requires a public, private, or independent institution, in a prominent location on its website and within 12 months of a completed academic year: (1) to make available to the public student loan* debt statistics on graduates; (2) to provide students information concerning unused state and federal financial assistance, including unused federal student loan moneys available, before certifying for private student loans; and (3) to inform students they may be eligible for federal student loans at participating institutions.

Items A through D outline relevant information pertaining to Claremont Graduate University graduates and student loan debt:

  1. The number of students who started as first-time postsecondary students at the institution and received a certificate, associate's degree, or bachelor's degree during that academic year. For purposes of this section, "academic year" means the most recently completed federal award year of July 1 to June 30: 8.
     
  2. (i) For each type of credential specified in subparagraph (A), the number and percentage of the students identified pursuant to subparagraph (A) who borrowed at any time while enrolled at the institution through any student loan program, including, but not necessarily limited to, institutional loans, state loans, federal Perkins loans, federal Stafford subsidized and unsubsidized loans, and private loans that were certified by the institution, including both federal direct student loans and federal family education loans. (ii) The total principal borrowed for each type of credential in those loans described in clause (i).

    Credential Degrees Conferred # Borrowers % Borrowers Total Borrowed
    CRTCCPL 300%$0
    CASECERT 5120%$14,135

     
  3. (i) For each type of credential specified in subparagraph (A), the number and percentage of the students identified pursuant to subparagraph (A) who borrowed at any time while enrolled at the institution through a federal student loan program, including, but not necessarily limited to, federal Perkins loans, federal Stafford subsidized and unsubsidized loans, federal direct student loans, and federal family education loans, but excluding institutional loans, state loans, and private loans. (ii) The total principal borrowed for each type of credential in those loans described in clause (i).

    Credential Degrees Conferred # Borrowers % Borrowers Total Borrowed
    CRTCCPL 300%$0
    CASECERT 500%$0

     
  4. The average cumulative principal borrowed by those students counted for purposes of the calculations required by subparagraphs (B) and (C) by credential type, calculated by dividing the sum identified in clause (ii) of each of those subparagraphs for each type of credential by the number of that type of credential issued for students receiving the loans described in the respective subparagraph.

    All loans average: $14,135
    Federal loans average: $0

*For purposes of this subdivision, "loans" shall include co-signed loans that financed a student's own enrollment or attendance, but shall not include parental loans.


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