Public Universities in California are leading the nation by being the first to provide low-interest college loans to Dreamers. The law making this possible appropriates funding through the California DREAM loan allotment and currently totals a fund of $7 million. Each applicant will be eligible to borrow up to $4,000 for each academic year at 4.29% interest. Like many other student loans, students will have a 6 month grace period before they must begin repaying the loan. Approximately 10,000 students may be eligible to qualify for a loan, which would help reduce the cost of their college tuition and help make attending college a reality for more students. This will come as an immense help to noncitizen children living in the United States who do not qualify for federal financial aid.
