SB 123: Higher education budget trailer bill.

This bill aims to improve postsecondary education in California by making several changes. It requires the University of California to fund construction grants for student housing projects using revenue bond funding. The bill also aims to increase participation in the California Kids Investment and Development Savings (Kids) program by providing local educational agencies with information about the program and the students' potential eligibility. Additionally, the bill updates the model uniform set of academic standards for high school courses and college-level coursework taken for credit at California public colleges and universities. The bill also modifies the Cal Grant program to use the 3-year cohort default rate certified in 2020 to certify qualifying institutions for the 2025-26 and 2026-27 academic years. Furthermore, the bill extends the availability of grant program funds for t…