Los Angeles Mayor Karen Bass today joined United States President Joe Biden as he announced that the Biden-Harris Administration will automatically discharge $1.2 billion in loans for nearly 153,000 borrowers who are eligible. This action comes as 7.5 million borrowers are now enrolled in President Biden’s Saving on a Valuable Education (SAVE) Plan, 4.3 million of whom have a $0 monthly payment.
Prior to the event in Culver City, Bass hosted President Biden at CJ’s Cafe in Baldwin Hills. The following are Mayor Bass’ remarks as delivered:
“Good afternoon, everyone. It is my pleasure to be here this afternoon. I want to thank Mayor McMorrin of Culver City. I want to acknowledge my colleagues Senator Padilla, Congresswoman Sydney Kamlager-Dove, Chair of the Board of Supervisors Lindsey Horvath and Supervisor Holly Mitchell. I want to thank the Mayor again for having us in the amazing city of Culver City.
“What the President is here to do today is a part of his ongoing commitment to future generations.
“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. Student loan debt prevents our young people from buying a house and starting a family.
“Addressing student loan debt should be thought of as a jobs initiative. This should be thought of as a housing initiative. This should be thought of as an economic motivator for young people throughout the country.
“Student loan debt cripples our workforce – especially when it comes to addressing homelessness. We need more social workers, more mental health specialists, and more service providers. By tackling student loan debt, young people will be able to pursue these professions that save lives – that is what addressing this issue means.
“And frankly, canceling debt for millions will be life changing in and of itself.
“So again, thank you Mr. President, for bringing us all together today to highlight the amazing work that you’ve done to protect and to propel younger generations into success.”
President Biden also thanked Mayor Bass in his remarks:
“Mayor Bass, thank you for your partnership and, more importantly to me, your friendship.”
