2020 candidates Elizabeth Warren and Wayne Messam address student debt cancellation.
Ayo Ihedioha, a junior marketing student at Texas Southern University, estimates that she’ll have $200,000 worth of student loans when she completes her education."Eliminate them the best way you can,” Ihedioha said. “Because it’s not easy graduating, you already have to think about life after college and then you have to think about your student loans."Two candidates have made tackling student debt through loan cancellation a major part of their platforms. Sen.
Other candidates support alternative means of tackling student debt, including supporting the Debt-Free College Act, which would allow students to attend public colleges for free. Warren’s plan would cancel up to $50,000 in student loan debt depending on a borrower’s income. Warren’s plan proposes an “ultra-millionaire tax,” a 2 percent tax on families with more $50 million in wealth.
“People have been talking about Senator Warren's proposal, as though she's wiping out all student loan debt. She’s not even coming close to half of it,” Kantrowitz said. “While it's very popular among millennials because everybody would love free handouts, I don't see it as addressing any major public policy objective.”
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