Elizabeth Warren wants to wipe away student debt — with a $1.25 trillion tax on the rich

For the past few years, a handful of economists and politicians have advocated for cancelling student debt.

On Monday, that idea went mainstream.

As part of her campaign for the Democratic nomination for president, Sen. Elizabeth Warren of Massachusetts released a proposal that would provide significant student-loan relief for a large share of borrowers.

The entire proposal would cost $1.25 trillion over 10 years, Warren’s camp estimates, and Warren is proposing to pay for it through a tax on the super rich.

Under her plan, borrowers with a household income under $100,000 would have $50,000 of their student debt cancelled.

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