President Biden discusses student loan forgiveness at Culver City event
CULVER CITY, Calif. - President Joe Biden concluded a roughly 24-hour SoCal visit Wednesday by visiting a library in Culver City to announce his latest effort to forgive billions of dollars in student loan debt, but he also made an unscheduled stop at a Baldwin Hills cafe to pick up a breakfast burrito.
Biden announced the approval of $1.2 billion in debt cancellation for 153,000 student loan borrowers enrolled in the Saving on a Valuable Education, or SAVE, repayment plan. According to the White House, the move means the administration has now authorized nearly $138 billion in student debt cancellation, affecting almost 3.9 million borrowers.
The latest action for SAVE plan members impacts borrowers who have been making payments for at least 10 years and borrowed $12,000 or less.
According to the White House, the forgiveness of the SAVE loans occurred six months ahead of schedule.
"I'm happy to have been able to forgive these loans because when we relieve Americans of their student debt, they're free to chase their dreams," Biden said during an appearance at Julian Dixon Library on Overland Avenue.
Biden was introduced during the event by Jessica Saint Paul, a physician's assistant and teacher who said she took out roughly $95,000 in loans to earn her undergraduate, masters and doctorate degrees, but after paying for 18 years, the amount had still ballooned with interest to more than $144,000. She said she was among the Americans who have had their debt forgiven.
"I am no married, I'm able to pay my mortgage -- in Los Angeles," she said. "... And just two weeks ago, I had my baby girl. It's a defining moment for me."
Biden said her story was the same for many other Americans who have put off key life decisions -- like starting a family -- because of the burden of student debt. He said when he first ran for president, he "made a commitment to fix our broken student loan system."
"While a college degree is still a ticket to a better life, that ticket is too expensive," he said. "And too many Americans are still saddled with unsustainable debt in exchange for a college degree.
PREVIOUS COVERAGE: Biden returns to these California cities this week
"... This is the kind of relief that can be life-changing for individuals and for their families," he said. "And it's good for the economy as a whole. We've freed millions of Americans from their crushing student loan programs. It means they can finally get on with their lives. ... They can think about buying a house, starting a home, starting a family ... or saving for their family's future."
Los Angeles Mayor Karen Bass was among those speaking at the event, which was also attended by Culver City Mayor Yasmine Imani-McMorrin.
Bass joined Biden late Wednesday morning to ride in the presidential motorcade from Century City to Culver City. Along the way, they made an unscheduled stop just before noon at CJ's Cafe, a small Mexican food restaurant in a Baldwin Hills strip mall on La Brea Avenue.
The president -- who ordered a breakfast burrito for lunch -- and Bass shook hands and chatted with customers. They also took photos with some people at the eatery before the pair got back into the motorcade and made their way to the Culver City event.
Following his speech in Culver City, Biden got back into his motorcade bound for Los Angeles International Airport for a flight to San Francisco, where he has additional fundraisers planned. A small gathering of pro- Palestinian protesters shouted at Biden outside the Culver City library, but there were no reports of any major disturbances.
Air Force One departed LAX at about 2 p.m.
His announcement regarding the student loan forgiveness, however, drew quick criticism from Republican lawmakers.
"This is now $138 BILLION of your hard-earned tax dollars that Joe Biden is using to pay off other people's debt," Sen. Rick Scott, R-Florida, wrote on X, formerly known as Twitter. "These reckless handouts are a slap in the face to the millions of people who are working their butts off just to get by and getting nothing but higher prices because of Biden's broken economy."
Sen. Roger Marshall, R-Kansas, wrote on X, "Joe Biden is using hard-working Americans' money once AGAIN to pay off debts that are not theirs. If you take out a loan, you are expected to pay for it."
Earlier Wednesday morning, Biden issued an executive order regarding security at nation's ports and additional actions to strengthen maritime cybersecurity, fortify supply chains and strengthen the United States industrial base.
The executive order includes an intent to bring domestic onshore manufacturing capacity back to America to provide safe, secure cranes to U.S. ports -- the result of a more than $20 billion investment in U.S. port infrastructure under Biden's Investing in America Agenda, according to the White House.
Biden arrived in Los Angeles Tuesday. Air Force One touched down at Los Angeles International Airport at about 3:30 p.m. with Biden greeted by Bass and Rep. Maxine Waters, D-Los Angeles.
Although the president normally travels from LAX to Santa Monica via helicopter, he was driven in a motorcade Tuesday, prompting a full shutdown of the northbound San Diego (405) Freeway from Westchester through West Los Angeles at the onset of the evening rush hour.
U.S. President Joe Biden. (Photo by Chip Somodevilla/Getty Images) (Getty Images)
Biden spoke for 17 minutes at a fundraiser at the home of Israeli American media mogul Haim Saban in the gated Beverly Park community, near Mulholland Drive.
Saban and fellow host Casey Wasserman, a sports management executive and chairman of the organizing committee for the 2028 Olympics, were both listed as hosts for the event, but were unable to attend after testing positive for COVID-19.
Biden made comments similar to recent fundraisers, touting his achievements, including reducing cost of insulin and protecting and strengthening the Patient Protection and Affordable Care Act, better known as "Obamacare," repeating his call for billionaires to be taxed at 28% and vowing to make Roe v. Wade the "law of the land."
Biden also criticized Republicans in general and former President Donald Trump, the party's likely 2024 presidential nominee, in specific, declaring, "Time and again Republicans show they are a party of chaos and disunity. They shout about problems but offer nothing. They have no platform.
"Are they here to solve problems or just weaponize them for political attacks? I'm here to serve the people."
Tickets for the Tuesday event ranged from $3,300 to $250,000, with those donating at least $25,000 getting to take a picture with Biden, according to the entertainment news website Deadline.
Proceeds from the event will benefit the Biden Victory Fund, which supports his reelection campaign, and the Democratic National Committee.
Earlier Tuesday, the Biden-Harris campaign announced it had raised more than $42 million in January and reported it had $130 million in cash on hand, what it called "the largest for any Democratic ticket in history at this point in the cycle."