LawWiki
HomeCodesSearchGlossaryAPIAbout
LawWiki

Plain English summaries of California law with zero-hallucination AI. Every summary is verified against official source text.

Product

  • Search
  • Codes
  • About

Legal

  • Privacy Policy
  • Terms of Service
  • Disclaimer

© 2026 LawWiki. All rights reserved.

HomeFinancial CodeDiv. 5Ch. 7Art. 4§ 15101 Educational Loan Exemption

§ 15101 Educational Loan Exemption

Financial Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 15101 Educational Loan Exemption

This law lets a borrower exclude an education loan from the normal loan limit if the loan would otherwise go over the cap, as long as the loan is properly secured and the excluded amount is $10,000 or less.

Key Takeaways

  • •Education loans can be left out of the total loan limit if they would exceed it.
  • •The loan must be secured according to the rules in Section 14955.
  • •The amount that can be excluded cannot be more than $10,000.

Example

A family wants to borrow $15,000 to pay for college, but the usual loan limit for their household is $10,000.

Because the loan is for education and is secured as required, only $10,000 of that loan counts toward the $10,000 limit; the extra $5,000 does not affect the limit.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 15101 Educational Loan Exemption

Notwithstanding the provisions of Section 15100, if a loan is made for educational purposes and such loan would cause the aggregate of loans to an individual or to any one family to exceed the limitations imposed by subdivision (b) or (c) of Section 15100, such educational loan shall not be included in computing the aggregate of loans pursuant to Section 15100, provided (1) that such educational loan is secured in accordance with subdivision (b) or (c) of Section 14955, and (2) that the aggregate amount of such educational loan exempted by this subdivision from subdivision (c) of Section 15100 shall not exceed ten thousand dollars ($10,000). (Amended by Stats. 1984, Ch. 209, Sec. 13.)

Last verified: January 11, 2026

Key Terms

educational purposesaggregate of loansten thousand dollars ($10,000)

Related Statutes

  • § 15100 Credit Union Loan Policies
  • § 15102 Credit Union Fraud Damages
  • § 15103 Credit Union Repossession Notice
  • § 18535 Guaranty Fund Membership Fees
  • § 18536 Member Assessment Notice Requirements

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 15101.
View Official Source