Warren Proposes to Wipe Out Student Debt

“Sen. Elizabeth Warren (D-MA) unveiled a new plan on Monday that would offer free public college for future students while cancelling up to $50,000 in student debt for over 40 million Americans,” NBC News reports.

“Warren said her proposal was designed to confront a recent surge in student loans, now totaling $1.5 trillion nationally. She blamed insufficient funding in higher education in favor of lower taxes for the mounting student debt.”

New York Times: “Ms. Warren’s sweeping plan has several planks. She would pay for it with revenue generated by her proposed increase in taxes for America’s most wealthy families and corporations, which the campaign estimates to be $2.75 trillion over 10 years. In addition to eliminating undergraduate tuition at public colleges and universities, she would expand federal grants to help students with nontuition expenses and create a $50 billion fund to support historically black colleges and universities.”