The University of California today welcomed California voters’ overwhelming approval of the Veterans and Affordable Housing Bond Act of 2026, which includes $175 million for UC student housing. The funding will help UC campuses pursue new housing projects, expand affordable options for students, and ease housing pressures in communities across the state. The passage of Proposition 1 clearly shows that voters understand student housing costs put a real strain on hardworking California college students and their families, and they want elected officials to address the affordable housing shortage today and in the years ahead.
The $11.25 billion bond includes $350 million for student housing at California’s public universities, divided equally between the University of California and California State University systems. UC’s $175 million share will be available through the state’s Higher Education Student Housing Grant Program.
“The passage of Proposition 1 is a vital step in addressing the state’s housing crisis,” said UC President James B. Milliken. “As the University of California works with the state to enroll more California students, the demand for affordable student housing has risen. This historic investment will enable the construction of necessary and new housing on our campuses. I am grateful for the state’s partnership and to those across the university community who advocated for Proposition 1. We have much work ahead to address housing in California, but this is an important victory in the effort to bring down costs for students.”
Housing costs are a significant part of the cost of attending college, particularly in communities where affordable rental options are limited. Additional student housing can help students focus on their education without the uncertainty of housing instability, while expanding affordable options in communities where students and working families compete for limited housing.
UC enrolled a record 301,093 students in fall 2025, including more than 200,000 California undergraduates. Since 2021, UC has added nearly 19,000 California resident students — roughly the size of a new campus. Yet state funding per student remains below pre-recession levels, even as costs rise, further exacerbating student housing challenges.
“Students have continuously advocated for desperately needed affordable housing,” said State Senator Christopher Cabaldon. “With the passage of Proposition 1, voters are delivering 350 million dollars to address this significant need. Now students can focus on their education and not worry about where they’re going to sleep at night.”
State funding can also stretch further by covering a portion of project costs that would otherwise need to be financed through student rents, helping campuses offer more affordable units. As projects move forward, housing construction will support jobs and economic activity in communities across California.
The bond builds on UC’s ongoing efforts to increase student housing and expand access to affordable units. In recent years, UC’s nine undergraduate campuses have secured more than $700 million through the state’s Higher Education Student Housing Grant Program to support the construction of thousands of new student beds, including units offered below market rate.
“California is home to the nation’s finest universities and colleges in the country,” said Assemblymember Buffy Wicks. “Students should be able to pursue higher education without the added burden of housing insecurity. The passage of Proposition 1 brings us one step closer to that reality, funding the affordable housing fundamental to student success. I’m grateful for UC’s leadership and partnership in recognizing that access to higher education and affordable housing go hand in hand.”
UC currently has more than 13,000 student beds in development across 14 active projects systemwide. The University has also leveraged a $41.6 million state investment to support student housing debt service, helping add more than 7,000 beds, including 3,000 subsidized beds.
UC worked with the Governor’s Office and legislative leaders to make student housing part of the state’s broader housing investment. The University made the case that student housing is an essential part of California’s affordability challenge, bringing together a coalition of students, faculty, staff, alumni, parents, business and community organizations, and other higher education supporters. Through the UC Advocacy Network and campus partners, thousands of Californians also contacted lawmakers in support of the investment.
“On behalf of over 300,000 UC students across the state, the UC Student Association is deeply grateful to California voters for approving Proposition 1, which supports urgently needed affordable student housing across our campuses,” said Kai Wang, UCSA Student Housing Officer, UC Davis '29. “This measure will authorize several shovel-ready projects across our 10 campuses, placing thousands of our students in beds as they pursue their postsecondary education and strengthen California’s workforce.”
With voter approval, UC campuses are expected to apply for available funding to advance additional student housing projects, including affordable options for students. The University will continue working with state partners to identify opportunities to build more housing, reduce costs and ensure students have access to the resources they need to succeed.