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Elizabeth Warren Announces She Wants To Cancel Student Loan Debt For Millions

Emily Reily 22 Apr 2019

Presidential candidate Elizabeth Warren has rolled out a policy plan that would eliminate student loan debt for the majority of Americans currently saddled with the heavy load.

75 Percent of Americans Could Benefit

Buzzfeed writes that millions would be affected by Warren's plan, if she were elected president.

About 75 percent of Americans with student loan debt would benefit.

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Analysts on Warren's Campaign

Warren's statistics come from a "group of student loan experts" who are working on behalf of Warren's campaign.

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You Could Have Thousands In Bills Eliminated

Instagram | @elizabethwarren

If your household income is less than $100,000, you could have up to $50,000 of your debt eliminated, while those making less than $250,00 could have smaller amounts cut. Those who make more than $250,000 wouldn't be off the hook for their bills.

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A $1.25 trillion plan

Warren's plan also includes free undergrad tuition at public colleges, which could cost about $1.25 trillion over 10 years.

She would pay for this by using her proposed tax cut on the ultra-rich. The debt forgiveness would also be tapered for those with high incomes, though the specifics aren't laid out in Buzzfeed's story.

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Ninety-Five Percent Is Quite a Healthy Amount

According to the analysis Warren is announcing, 95 percent of Americans who have some kind of college debt would see some affects from her plan.

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Wouldn't It Be Nice Though?

Some are saying this policy can also be called a "giant welfare program for the upper middle class."

Even so, many of us with college debt would no doubt welcome an opportunity to have those insurmountable bills off our backs.

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