CA SJR1

Urges the President of the United States to cancel up to $50,000 of student loan debt per borrower through executive action.

Notes that over 43 million Americans owed more than $1.7 trillion in student loans as of 2020, more than double the $845 billion owed in 2010.

Identifies that more than 3.5 million California borrowers owe $140.1 billion in federal student loan debt, with an average debt of $36,351 per borrower.

Cites student loan debt as a major economic drag that has caused borrowers to postpone homeownership, marriage, family formation, and retirement savings.

Directs the Secretary of the Senate to transmit copies of the resolution to the President, Vice President, Speaker of the House, Senate Majority Leader, and California's congressional delegation.