[ [link removed] ]Katie Porter for Congress

John,

Today the Biden Administration announced that they’re canceling $10,000
worth of student loans for Americans making under $125,000 per year.

I hear a lot of passionate arguments from people on all sides of this
issue. Today, I’m breaking out my whiteboard to give you the facts so you
can evaluate the Biden Administration’s decision for yourself.

[ [link removed] ]Myth: Borrowers have advanced degrees, they can pay back loans. Fact:
40% of borrowers didn’t graduate. Myth: This panders to young people Fact:
More than 1 million borrowers are 60 or older. 70% of garnished social
security goes towards student loan interests & fees (not even the loan!)
Myth: This only helps borrowers. Fact: This will help build a strong,
stable economy for all of us.

The bottom line is that this won’t just help the students, parents, and
grandparents who took out student loans, this will be a massive boost to
our nation’s entire economy.

Whether you went to college or not, whether you took out loans or not,
whether you’re a Republican or a Democrat: I’ve never met anyone who
doesn’t want a stronger, more stable economy. Canceling a portion of
student loans is going to help us do that.

I hear from people who worked their way through college say they don’t
want to pay other people’s way—my own dad flipped burgers to pay his
college tuition. But with the much higher cost of living and tuition now,
there’s no amount of skipped lattes or extra waitressing shifts that can
pay for today’s cost of college—an average of $35,000 per year.

Today’s announcement is a correction of a problem, but not a permanent
solution. My own son is looking at colleges right now, so I’m quite aware
that the price of college is out of reach for most Americans. Tomorrow,
look for another email from me about the steps I’ll be pushing President
Biden to take to lower the sticker price of college for everyone.

However you feel about this issue, thanks for taking the time to read the
facts.

—Katie

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|Katie is running for re-election in California’s 47th district, which |
|includes Irvine and coastal Orange County. This purple district contains|
|an equal number of Democrats and Republicans and is a must-win for |
|Democrats. Consider pitching in today so we have the resources to keep |
|Katie in Congress fighting for working people. |
| |
| [ [link removed] ]Donate ››› |
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