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Warren Proposes Scrapping Student Debt for Millions in 2020 Plan

The policy would fully cancel loans in about three-quarters of households with student debt.

By Sahil Kapur | April 23, 2019 at 02:25 PM
Sen. Elizabeth Warren Elizabeth Warren Photographer: Christopher Goodney/Bloomberg

Democratic presidential candidate Elizabeth Warren proposed eliminating student-loan debt for an estimated 42 million Americans with a wealth tax, seeking to show young voters she would ease one of their biggest economic burdens.

The plan would eliminate as much as $50,000 in student debt for anyone with household income of less than $100,000, and partially cancel debt for those who make as much as $250,000. Beyond $100,000 in income, the $50,000 in per-person debt forgiveness falls by $1 for every $3 earned, zeroing out after $250,000.

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