Sen. Elizabeth Warren proposes major student debt forgiveness plan

Political News

(WWLP) – Democratic presidential candidate Senator Elizabeth Warren has a plan to eliminate most student debt.

Warren said her proposal was designed to confront a recent surge in student loans, now totaling $1.5 trillion nationally.

Read More: Warren unveils $640 billion college debt forgiveness plan

Under her plan, all Americans living in households that earn less than $100,000 a year would have $50,000 in student loans forgiven.

It would cost roughly $1.25 trillion over 10 years.

According to NBC News, her campaign estimated that 95 percent of Americans with student loan debt would qualify for relief under her plan.

More than 75 percent would have their debt wiped out entirely

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