Warren unveils $640 billion college debt forgiveness plan

News
Election_2020_Elizabeth_Warren_37925-159532.jpg09956306

IN this April 1, 2019, file photo, Democratic presidential candidate Sen. Elizabeth Warren, D-Mass., speaks during the We the People Membership Summit in Washington. Warren has become the first 2020 Democratic presidential candidate to make a full-throated call for the House of Representatives to begin impeachment proceedings against President Donald Trump after the release of […]

COLUMBIA, S.C. (AP) – Democratic presidential candidate Elizabeth Warren is proposing the elimination of existing student loan debt.

The Massachusetts senator says the proposal unveiled Monday would eliminate almost all student loan debt for 42 million Americans, canceling $50,000 in debt for each person with household income under $100,000.

Warren says the debt cancellation proposal would create a one-time cost to the federal government of $640 billion.

Many in the sprawling Democratic field have proposed reforming the nation’s student loan programs, but Warren appears to be first to propose flat-out debt cancellation.

Among Warren’s other proposals is elimination of tuition and fees for two- and four-year public college degree programs, as well as a $100 billion investment in Pell Grants, a federal aid program that requires no payback.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


Days

Hours

Minutes

Seconds

Trending Stories