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Elizabeth Warren Wants Her Proposed Tax on the Ultra-Rich to Alleviate Student Loan Debt

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Warren’s plan includes proposals for the elimination of student loan debt for most students, an expansion of grants for low-income students, and free public education.
Senator Elizabeth Warren (D-Massachusetts) published a broad plan on Monday to reduce student loan debt. Its the newest plan in Warrens policy-first campaign strategy as she competes for the 2020 Democratic presidential nomination.
Despite lackluster initial fundraising efforts, Warren has continued rolling out detailed proposals, including plans for a corporate wealth tax, universal child care, and protections for public lands.
Warrens latest plan seeks to drastically alter higher education in America by forgiving up to $50,000 in student loans for those in households that earn less than $100,000. For those with family incomes between $100,000 and $250,000, any college debt would be partially forgiven (although less than $50,000). According to data and analysis from the Warren campaign, her plan would alleviate or eliminate debt for more than 95 percent of the 45 million Americans with student debt.
The plan expands upon 2017 legislation (known as the College for All Act) that Warren co-sponsored with Senator Bernie Sanders (I-Vermont), which would make public colleges and universities tuition-free for students with family incomes of less than $125,000 (which is 86 percent of the population).

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