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CA AJR33
Joint Resolution
Status
Engrossed
6/20/2022
Primary Sponsor
Miguel Santiago
Click for details
AI Summary
- Calls upon the Biden Administration to cancel all federal student debt
- Cites that over 43 million Americans collectively owe approximately $1.6 trillion in federal student loan debt, with nearly 4 million California borrowers owing $147 billion
- Notes that Black and Latinx borrowers have higher delinquency and default rates, and Black borrowers with bachelor's degrees carry nearly 50 percent more debt than White peers four years after graduation
- States that full-scale student debt cancellation is projected to add between $86 billion and $108 billion to gross domestic product in the first year after implementation
- Directs the Chief Clerk of the Assembly to transmit copies to the President, Vice President, and Secretary of Education
Legislative Description
Federal student debt: cancellation.
Last Action
Referred to Com. on ED.
6/30/2022
Committee Referrals
Education6/30/2022
Rules6/21/2022
Higher Education5/19/2022
Full Bill Text
No bill text available