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Warren's massive $640 billion student loan cancellation questioned over fairness to students who paid off their debts


Added 04-23-19 06:29:02am EST - “Democrat Elizabeth Warren's plan to cancel existing student loan debt for millions of Americans is facing questions whether it's fair to use taxpayers' money to pay off someone else's agreed commitments and if the people who paid…” - Foxnews.com

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Posted By TheNewsCommenter: From Foxnews.com: “Warren's massive $640 billion student loan cancellation questioned over fairness to students who paid off their debts”. Below is an excerpt from the article.

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Democratic presidential candidate Sen. Elizabeth Warren unveils sweeping proposal to eliminate student loan debt and make all public colleges tuition-free; reaction from Peter Morici, former chief economist for the U.S. International Trade Commission.

Democrat Elizabeth Warren’s plan to cancel existing student loan debt for millions of Americans is facing questions whether it’s fair to use taxpayers’ money to pay off someone else’s agreed commitments and if the people who paid off their student debts would be penalized for meticulous financial planning.

The leading 2020 presidential candidate unveiled her plan on Monday, going further than most of other Democratic candidates when it comes to education policies, pledging to cancel almost all student loan debt for 42 million Americans.

Under Warren’s plan, each person’s student debt would get a relief of $50,000 if household income is up to $100,000. Higher incomes would also be entitled to massive debt reductions, with only those earning over $250,000 would get no student debt cancellation.

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