Senator Elizabeth Warren outlined her plan Monday to offer free college tuition to all Americans while forgiving pre-existing student loan debt; admitting the expensive proposal would likely cost $1.25 trillion over the next decade.
“We got into this crisis because state governments and the federal government decided that instead of treating higher education like our public school system — free and accessible to all Americans — they’d rather cut taxes for billionaires and giant corporations and offload the cost of higher education onto students and their families,” writes Warren.
“Experts estimate my debt cancellation plan creates a one-time cost to the government of $640 billion. The Universal Free College program brings the total cost of the program to roughly $1.25 trillion over ten years,” she adds.
Warren’s proposal would provide cost-free tuition for public colleges and would cancel up to $50,000 in student loan debt for Americans earning under $100,000 per year.
Read the Senator’s full article here.