Middle Class Scholarship Facts

In 2009 Governor Schwarzenegger passed a tax loophole benefiting out-of-state corporations.
This Single Sales Factor tax allows out-of-state corporations to choose between this tax, which pay a lower amount, or the one that is in place for other in-state corporations and businesses.
California Speaker of the House, John A. Perez, authored the bills (AB 1500 & 1501) with other assembly members closing this tax loophole and putting that money toward higher education, together the bills make up the Middle Class Scholarship Act.
AB 1500 closes the tax loophole generating $1 billion, while AB 1501 puts that money into the Middle Class Scholarship fund...and cuts student fees by 2/3rds for middle class families making from $80K-$150K, who do not receive financial aid!
When the UC and CSU were first created it relied on the California Master Plan: quality, accessibility, and affordability of higher education. ALL of these have been compromised as our elected officials have continuously made cuts to education.
With the MCS, CSU students will save about $4,000/yr (or $16,000 over 4 four years), & UC students will save about $8,200/yr (or nearly $33,000 over 4 years).
Other than cutting student fees by 2/3rds for UC's and CSU's it also allocates $150 million of funds to Community Colleges to best meet individual needs of students, by expanding the use of fee waivers or providing grants to cover the costs of books or other educational expenses.
Since the 03-04 school year, CSU fees have increased 191% and UC fees have increased by 145%!
Investing in California’s students is an investment in our future. For every $1 we spend on higher education, the state gets a $3 return on its investment.

FACTS: What is the Middle Class Scholarship Act?