Warren Wants Student Debt Erased Through $640 Billion Plan

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Warren, who is now tied for fifth place among Democratic primary candidates according to the RealClearPolitics polling average, was also the first Democratic presidential hopeful to call on the House of Representatives to initiate impeachment proceedings against President Donald J. Trump following the release of Special Counsel Robert Mueller's report on Russian meddling in the 2016 election.

Beyond the student debt plan, Warren calls for eliminating tuition at all public two- and four-year colleges, an idea introduced by Sen. As Warren noted in her video, she could go to school for $50 per semester, which was easily affordable with a part-time job. Warren would make additional federal funding available to states that demonstrate improvements in enrolling and graduating low-income students and students of color. "It all started with that chance in college". Bernie Sanders, I-Vt., in the 2016 presidential race.

Overall, Warren's new proposals are welcome entries to the student loan debate, but they aren't without their flaws. The senator claims the plan would "give every American the opportunity to attend a two-year or four-year public college without paying a dime in tuition or fees".

"The first step in addressing this crisis is to deal head-on with the outstanding debt that is weighing down millions of families and should never have been required in the first place", Warren wrote.

Warren's plan would offer debt relief based on income. The $50,000 cancellation amount would phase out by $1 for every $3 in income above $100,000.

More than 44 million Americans have student loans, which add up to $1.5 trillion in total. But in expensive areas, household income isn't necessarily a useful way to gauge a family's ability to pay back student loans.

Democratic 2020 U.S. presidential candidate and U.S. Senator Elizabeth Warren (D-MA) speaks to supporters in Memphis, March 17, 2019. Warren, Harris and Sen. It would establish a matching grant to states that commit to helping students pay for the full cost of attendance without taking out loans.

The high-dollar proposal will surely face push back from Republicans but also from some Democratic rivals. Sen. Amy Klobuchar of Minnesota and South Bend, Ind., Mayor Pete Buttigieg, have taken a more conservative stance on debt-free college.

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Numerous proposals in Warren's higher-education plan are focused on racial and socioeconomic equity.

In her current proposal, Warren has no method to force universities to keep prices low or discourage administrative bloat.

"The way we build a future where everyone's got a chance is we start out by investing in their education", Warren said.

The canceled debt would not be taxed as income, Warren said.

Asked about connecting the viability of her new proposal to another, Warren insisted that there is broad support for the idea of taxing the ultra-rich. A person with a household income of $160,000 could expect to shed $30,000 in student loan debt, according to an example included in Warren's post. "It tells you how badly out of whack our economy is right now".

Warren announced the policy ahead of a CNN town hall in New Hampshire focusing on issues important to young voters. She has offered detailed proposals on subjects such as child care, anti-corruption and breaking up big technology companies - all created to address what she sees as inequities in the US economic and political systems.

"Look. Policy is personal". "People come up to me in tears talking about their student loan debt. It's with policy. It's policy that touches where people live". The way we fixed these problems?

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