Democratic presidential candidate Elizabeth Warren says she wants to cancel student loan debt.
While at an event on the Iowa State University campus, Warren spoke about her idea to cancel up to $50,000 in student debt for anyone from households earning less than $100,000 per year.
“The reason I wanted to do this is we’re just trying to roll this out as a way to make real to people what it means to talk about student loan debt cancellation. And why I talk about it- I just want everybody to understand why I talk about it.”
Warren says her loan forgiveness plan would be paid for by her proposed wealth tax.
Her campaign estimates the one time debt cancellation would cost $640 billion.
Warren also wants to make tuition free at public two and four-year colleges for all students, regardless of their family’s income.