Sen. Warren has unveiled a new plan that would offer free public college for future students while cancelling up to $50,000 in student debt for over 40 million Americans.
for either free public college, a signature part of Senator Bernie Sanders', I-Vt., platform, or debt-free college as well as various proposals to refinance student debt and lower interest rates.limiting the amount of loans students can be taken out while offering a new income-based repayment option.Households making under $100,000 could cancel up to $50,000 of student loan debt.
In an accompanying analysis, her campaign estimated that 95 percent of Americans with student loan debt would qualify for relief under her plan and more than 75 percent would wipe their debt out entirely. Moving forward, Warren's plan would eliminate tuition and fees at two-year and four-year public colleges and redirect student loan benefits to cover additional costs incurred by students.
The campaign estimated the total cost at $1.25 trillion over 10 years, $640 billion of which would come from its student loan plan. Warren said she would pay for it using herThe campaign unveiled its plan accompanied by a statement of support from Randi Weingarten, president of the American Federation of Teachers, who called it"as consequential as the GI Bill."
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