CA SR96

Designates August 2022 as Student Loan Debt Awareness Month in California to raise awareness of federal student loan repayment and forgiveness programs.

Urges employers, especially public service employers and state agencies, to conduct outreach and notify employees about student loan programs during August 2022.

Highlights that nearly 4 million Californians carry approximately $140 billion in student loan debt, with over 650,000 holding private student loans totaling $10.3 billion.

Notes the limited Public Service Loan Forgiveness (PSLF) waiver program ends October 31, 2022, requiring eligible borrowers to apply by that deadline to receive credit for years of public service work.

Emphasizes that Black, Latino, and women borrowers disproportionately carry higher student loan debt and experience greater delinquency and default rates.