Elizabeth Warren’s Student Loan Cancellation Plan Popular Among Those Without Debt

Elizabeth Warren’s Student Loan Cancellation Plan Popular Among Those Without Debt

Elizabeth Warren
Democratic presidential candidate Sen. Elizabeth Warren, D-Mass., speaks at the Heartland Forum held on the campus of Buena Vista University in Storm Lake, Iowa, Saturday, March 30, 2019. (AP Photo/Nati Harnik)

Student loan debt is out of control, most would agree. And 2020 Democratic presidential candidate Elizabeth Warren says she has the solution. Her plan “would eliminate all student debt for 75 percent of Americans who have it, and get rid of at least some debt for 95 percent of the almost 45 million affected Americans, according to an analysis by four social policy professors released by Warren’s campaign,” Business Insider reported.

But what’s interesting about these stats is that of those who like her plan, 57 percent of them have already paid off their student loans.

In all, according to a new Politico/Morning Consult poll, “56 percent of registered voters say they support the Massachusetts senator’s proposal to wipe out $640 billion in outstanding education loans by raising taxes on the wealthiest Americans,” CNBC reported.

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Here’s how the proposal works: $50,000 in student-loan debt would be forgiven for every American whose family makes up to $100,000. Households that earn between $100,000 and $250,000 would get a sliding percentage of their debt forgiven. “In addition, Warren’s plan would make all public higher education, including community colleges, tuition- and fee-free,” Business Insider reported. She’ll pay for it all by raising taxes on the wealthy.

So far, Warren is the only presidential candidate to release an in-depth plan on student debt forgiveness.

“My broad cancellation plan is a real solution to our student debt crisis,” Warren wrote on Medium recently. “It helps millions of families and removes a weight that’s holding back our economy.”