California Dream Loan

What Is A Dream Loan?

The California Dream Loan is a subsidized loan program for undergraduate students with a valid California Dream Act application* and a valid AB540 affidavit on file with California State University, Fullerton.

* T-Visa holders should file a FAFSA and would be considered for federal aid eligibility.

What Are The Eligibility Requirements?

To be eligible for the California Dream loan you must:

  • Have a valid California Dream Act Application completed by March 2nd
  • Must have a valid AB540 affidavit
  • Be an undergraduate student
  • Must be enrolled in at least half-time
  • Demonstrate Financial Need
  • Meet the Financial Aid Satisfactory Academic Progress Opens in new window standards
  • Cannot be in default on a student loan

Recipient of funds in one year does not guarantee awards of funds in subsequent years.

What Are the Current Interest Rates?

The interest rate for the California Dream Loan corresponds with the interest rate on Federal Direct Subsidized loans and is subject to change annually. The California Dream Loan does not accrue interest while you are enrolled at least half-time, during periods of approved deferment, and during the 6-month grace period before you enter repayment. You will be responsible for the interest charged at all other times.

Award Period Interest Rates *
July 1, 2015 - June 30, 2016 4.29%
July 1, 2016 - June 30, 2017 3.76%
July 1, 2017 - June 30, 2018 4.45%
July 1, 2018 - June 30, 2019 5.05%

* Interest rate is subject to change

How Is The Dream Loan Accepted?

To accept your California Dream Loan, you must log in to your student portal and accept the loan offer by your assigned deadline. You may decline the loan offer or accept less than what is offered to you, but funds are limited and you may not be able to increase your loan at a later time.

Students who accept the California Dream loan must complete a promissory note and entrance counseling.

If you fail to complete all the required steps to receive your loan funds by the assigned deadline,  your loan may be canceled. Funds are limited and you may not be awarded the funds again at a later date.

Requirement: Complete the Master Promissory Note and Entrance Loan Counseling Opens in new window

The Master Promissory Note Requires References, your references cannot share the same address.

Once you accept your loan, the loan entrance counseling requirement and the master promissory note will be posted on your student center as "to do" items. You will receive an email from ECSI with instructions for completing these items. Once we receive confirmation that you have completed them, they will be removed from your "to do" list.

For Assistance to complete the requirements, please contact our Perkins Office

Email: PerkinsLoans@fullerton.edu
Phone Number: (657) 278-2952
Fax Number: (657) 278-4607
Location: College Park 300

When Does Repayment Begins?

You begin repaying your loan at the end of a 6-month grace period. The grace period begins once you graduate, leave school, or enroll in less than half-time.

California Dream Loans are set-up to be repaid in monthly installments over a 10-year period and have a minimum payment of $50 a month. You can pay off your loan earlier without penalty.

Whom Do I Contact for Information About My Dream loan

If you have Dream Loans, here's whom to contact for repayment information

Contact the ECSI Dream Loan Servicer at  1-866-313-3797. 

Or go to ECSI website: https://efpls.com/ Opens in new window