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Elizabeth Warren: Cancel college debt, make public colleges free


Added 04-22-19 10:04:03pm EST - “Sen. Elizabeth Warren unveiled a higher education plan that calls for canceling student loan debt for a huge swath of Americans.” - News.yahoo.com

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Posted By TheNewsCommenter: From News.yahoo.com: “Elizabeth Warren: Cancel college debt, make public colleges free”. Below is an excerpt from the article.

Sen. Elizabeth Warren unveiled a sweeping higher education plan on Monday that calls for canceling tens of thousands of dollars in student loan debt for a huge swath of working and middle-class Americans and eliminating tuition at public colleges.

The proposal by Warren, who is among a crowded field of candidates vying for the Democratic presidential nomination, would eliminate up to $50,000 in student loan debt for every indebted person with a household income of less than $100,000.

Borrowers who make between $100,000 and $250,000 would also be eligible to have a smaller portion of their debt forgiven. Americans making more than $250,000 would not be eligible for loan forgiveness under the plan.

The plan would cost $1.25 trillion over the next decade, according to her campaign. The entire cost would be covered by an “Ultra-Millionaire Tax,” a 2% annual levy that she wants to impose of 75,000 American families with $50 million or more in wealth, she said.

“For decades, we’ve allowed the wealthy to pay less while burying tens of millions of working Americans in education debt,” Warren wrote in a Medium post detailing her plan. “It’s time to make different choices.”

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