Elizabeth Warren wants to wipe away $640 billion in student debt — with a tax on the rich [MarketWatch]
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Source: MarketWatch
Elizabeth Warren wants to wipe away $640 billion in student debt — with a tax on the rich For the past few years, a handful of economists and politicians have advocated for cancelling student debt . On Monday, that idea went mainstream. As part of her campaign for the Democratic nomination for president, Sen. Elizabeth Warren of Massachusetts released a proposal that would provide significant student-loan relief for a large share of borrowers. Under her plan, borrowers with a household income under $100,000 would have $50,000 of their student debt cancelled. Borrowers with an income between $150,000 and $250,000 would be eligible for some debt cancellation, though not the full $50,000, and borrowers earning $250,000 or more wouldn’t have any of their debt cancelled. In addition to cancelling debt, Warren proposed making public-college tuition free and expanding the Pell grant program, which provides money to low-income students to attend college, by $100 billion over the next 10 years
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