Nearly all student loan borrowers would see some of their debt cancelled under Elizabeth Warren's new proposal.
More than 95% of student loan borrowers would see at least some of their debt cancelled under Democratic presidential candidate Elizabeth Warren's new higher education proposal released on Monday.
The Massachusetts senator outlined her proposal in a Medium post on Monday."I'm calling for something truly transformational — the cancellation of up to $50,000 in student loan debt for 42 million Americans," she wrote. Borrowers need not apply for the relief: The government would automatically cancel the debt of eligible borrowers, using already available income and loan data.
Borrowers with household incomes under $100,000 would be eligible to have $50,000 of their student debt scrubbed.
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