Ummm, ain't Kalifornya broke?-------Public universities in California launch loan program for illegal immigrants

Public universities in California launch loan program for illegal immigrants:
"Students in the country illegally can now receive extra financial aid through California’s public universities under a new loan program recently approved by the state legislature that circumvents federal regulations prohibiting non-U.S. residents from obtaining federally funded student loans.
California already allows many undocumented students to pay in-state tuition at public colleges, and they can get state-funded tuition aid through Cal grants.
“Nevertheless, many of these students remain ineligible for federal student aid for reasons beyond their control,” the law states.
“Lack of access to federal student loans presents a substantial barrier for these students to obtain a baccalaureate degree from the California State University or the University of California.
The California DREAM Loan Act addresses this barrier by providing access to additional state aid.”
The bill was signed into law by Gov. Jerry Brown in late September, and universities are preparing to offer the loans starting with the 2015–16 academic year.
The interest rate for loans issued under the DREAM program will be the same as those given to students through the William D. Ford Federal Direct Loan Program, the law states.
California will funnel $9.2 million annually from its coffers to support the program, to be run by the California State University and University of California systems. 
Lawmakers anticipate 3,000 borrowers during the first year."