The California DREAM Act, signed by Governor Jerry Brown in October, is going to cost taxpayers a lot more than originally anticipated. A new report by California's Legislative Analyst Office states that the DREAM Act will cost $65 million annually, much higher than the $40 million originally estimated by California's Senate Appropriations Committee. The cost is expected to rise annually until 2015-2016.
The bill, also known as "AB 131" , will allow “AB 540” students to receive specified state-and campus-administered ﬁnancial aid. AB 540, which was adopted in 2001, exempts students who are not legal residents of California from having to pay nonresident tuition at the state’s public colleges and universities if they (1) attended California high schools for at least three years, and (2) graduated from a California high school. Students who meet these criteria may be legal residents of other states or undocumented immigrants to California.
With the addition of newly eligible "AB 540" students applying for financial aid, individual grants to students in California are expected to be less than before.
Updated: Fri, Dec 2nd 2011 @ 1:12pm EST