CA AR118

Designates August 2022 as Student Loan Debt Awareness Month in California

Urges employers, especially public service employers and state agencies, to conduct outreach and notification to employees about student loan programs during this month

Notes that over 45 million Americans owe approximately $1.7 trillion in student loan debt, with nearly 4 million Californians carrying roughly $140 billion in student loan debt

Highlights a limited Public Service Loan Forgiveness (PSLF) waiver ending October 31, 2022, that allows previously ineligible borrowers to receive credit toward loan forgiveness for years of public service work

Emphasizes that Black and Latino borrowers disproportionately carry higher student loan debt and experience higher rates of delinquency and default