President Biden in a Groundbreaking Move to Alleviate Student Debt Burdens.
On February 21, Mayor Karen Bass of Los Angeles stood alongside President Joe Biden as he unveiled a significant move by the Biden-Harris Administration to automatically discharge $1.2 billion in loans, benefitting nearly 153,000 eligible borrowers. This action comes within the framework of President Biden’s Saving on a Valuable Education (SAVE) Plan, with 7.5 million borrowers currently enrolled and 4.3 million experiencing a $0 monthly payment.
In a pre-event gathering at CJ’s Cafe in Baldwin Hills, Mayor Bass expressed her pleasure in participating, thanking Culver City Mayor McMorrin and acknowledging the presence of Senator Padilla, Congresswoman Sydney Kamlager-Dove, Chair of the Board of Supervisors Lindsey Horvath, and Supervisor Holly Mitchell.
Addressing the student loan crisis, Mayor Bass emphasized its broader implications, stating, “Skyrocketing student loan debt doesn’t just prohibit young people from getting the education they need and deserve; student loan debt prevents young people from buying a car, a house, and starting a family.” She framed tackling student loan debt as a multifaceted initiative, touching on jobs, housing, and economic motivation for the youth.
Describing the impact on the workforce, Mayor Bass highlighted its relevance to addressing homelessness, emphasizing the need for more professionals in crucial fields. Bass said, “President Biden is rebuilding our crumbling infrastructure and has delivered historic investments to combat climate change. Los Angeles has truly known no greater partner than the President and his administration. Mr. President, our City, and our region are grateful for the work you have done – and will continue to do. On behalf of the 4 million Angelenos, we say thank you. Welcome, Dr. Saint Paul and President Joe Biden.”
President Biden reciprocated Mayor Bass’s gratitude, saying, “Mayor Bass, thank you for your partnership and, more importantly to me, your friendship.”
