2020 Democrat presidential candidate and Massachusetts Senator Elizabeth Warren is campaigning on offering free college and cancelling a portion of student loan debt.
Warren’s plan is estimated to cost $1.25 trillion and she wants to increase taxes on corporations and the wealthy to pay for her idea.
The student debt relief plan would zero out as much as $50,000 of debt for students living in a household making less than $100,000 and lesser amounts of debt relief for students living in higher income households.
Warren also wants to address student expenses beyond tuition and wants to help black colleges.
The New York Times reports:
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.
According to a statement on her website, Warren says her student loan debt relief plan will, “Cancel debt for more than 95% of the nearly 45 million Americans with student loan debt.”
Senator Warren promoted her student tuition and debt plans on Twitter:
Student loan debt is crushing millions of families. That’s why I’m calling for something truly transformational: Universal free college and the cancellation of debt for more than 95% of Americans with student loan debt. Read all about it here: https://t.co/IG9J5CiNb7
— Elizabeth Warren (@ewarren) April 22, 2019
Warren discussed her plan in an interview on CNN.
Warren’s “free stuff” plan is a desperate attempt to buy votes from young voters who are straddled with student loan debt.