Elizabeth Warren Wants to Cancel Student Loans. Critics Wonder if That’s the Right Solution.
“The Warren campaign said that the plan was designed both to capture a wide swath of borrowers, and to target those who need it most. Its payouts are progressive, canceling up to $50,000 for every person with a household income under $100,000, but gradually declining for households with incomes up to $250,000. Those who make more than $250,000 would get nothing. Still, to Sandy Baum, an expert on college affordability at the Urban Institute, $50,000 in debt clearance was too much. Forgiving $10,000 in loans would eliminate debt for a third of borrowers, she said.”