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Elizabeth Warren Proposes Scrapping Student-Loan Debt for Millions

  • Democratic candidate says she’d cancel up to $50,000 in loans
  • Her plan includes free public college and boosts Pell Grants
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Elizabeth Warren's Winding Road to the Top of U.S. Politics
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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.