Joe Biden Touts Student Debt Relief At Culver City Event

Joe Biden wrapped up his Los Angeles visit today with brief remarks at a Culver City library to talk about the administration’s plans to cancel the student debt of more than 150,000 borrowers.

The original plan was blocked by the Supreme Court, but was revised so that borrowers who have been in the Saving on a Valuable Education plan, have been making at least 10 years of payments and had originally taken out $12,000 or less for college.

“The ability to repay has become so burdensome, a lot of people can’t even repay,” Biden said, adding that it would free up borrowers to buy homes and start businesses. The debt relief under the plan was originally to take place in July but was moved up.

Los Angeles Mayor Karen Bass and Jessica Saint Paul also spoke at the event, held at Culver City Julian Dixon Library.

Biden is heading to the Bay Area for more fundraisers this evening before returning to Washington on Thursday. He headlined a campaign fundraiser on Tuesday evening at the home of media mogul Haim Saban.

The administration said that it has approved nearly $138 billion in student debt cancellation for almost 3.9 million borrowers.