California Educational Facilities Authority

California Student Housing Revolving Loan Fund (CaSH RLF)

Established to provide zero-interest loans to qualifying college applicants for the purpose of constructing affordable student, faculty, and staff housing.

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CaSH RLF Overview


The California Student Housing Revolving Loan Fund (CaSH RLF) provides zero-interest loans for affordable student housing and affordable faculty and staff housing. It was enacted in 2022 under AB 190, the 2022 Education Budget Trailer Bill, (See Education Code, Chapter 14.28, commencing with Section 67329.1).

SB 117, the 2023 Education Budget Trailer Bill, appropriated $200 million ($150 million for University of California (UC) and California State University (CSU) Applicants through CEFA) in fiscal year 2023-24 and specifies the intent of the Legislature to appropriate $300 million each year in fiscal years 2024-25 through 2028-29 for CaSH RLF.

  • The Governor’s 2024-25 Proposed Budget released on January 10, 2024, included a number of cost-saving measures intended to address projected budget shortfalls, and unfortunately included the reversion of the CaSH RLF program funding. Considering this development, CEFA will pause the further development of the CaSH RLF program.