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Warren Proposes $640 Billion Student Debt Forgiveness, Free College

Sen. Elizabeth Warren (D-MA) has called for the cancellation of approximately $640 billion in outstanding student loan debt which would benefit people based on income, according to Politico

The plan would eliminate up to $50,000 in student loan debt for anyone with under $100,000 in annual household income. This would diminish for people with incomes between $100,000 and $250,000 ($1 relief for every $3 earned), and would not be available to those making over $250,000. 

"It’s a problem for all of us," said Warren in a lengthy Medium post ahead of several CNN town halls on Monday evening with fellow 2020 presidential candidates at Saint Anslam College. "It’s reducing home ownership rates. It’s leading fewer people to start businesses. It’s forcing students to drop out of school before getting a degree." 

Approximately 40 million Americans have student loans, which

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