May 2024

Financial Aid

California Student Aid Commission Spending Proposals Under Governor’s Budget and May Revision

General Fund Changes, 2024-25 (In Millions)

  Governor's Budget May Revision Change
Ongoing Spending      
Cal Grant baseline adjustmentsa $148 $88 -$61
Middle Class Scholarship (MCS) reduction — -510 -510
MCS baseline adjustmenta 16 -7 -23
Employee compensation adjustments —b —b —
Subtotals ($164) (-$429) (-$593)
One-Time Initiatives      
Golden State Teacher Grantsc $128 $50 -$78
Subtotals ($128) ($50) (-$78)
Totals $292 -$379 -$671
       
a Adjustments are relative to 2023-24 spending as reflected in Governor's January budget.  
b Less than $500,000.
c The 2021‑22 Budget Act appropriated $500 million to be spread over 2021‑22 through 2025‑26. The amount shown reflects anticipated spending in 2024-25. The May Revision reflects a $60 million proposed reduction, along with an $18 million downward adjustment due to higher-than-expected spending in 2023-24 (leaving less funding available in 2024-25).