2020 Presidential Election

[A. Spectre]

Katzchen:

Sen. Elizabeth Warren (D-Mass.)

Sen. Elizabeth Warren has proposed some of the most robust plans for tuition and student loan debt reform of any of the candidates so far. In April 2019, Warren and her team published a proposal on what she would do to solve these issues:

*Mass student loan forgiveness. Warren proposed forgiving up to $50,000 in federal student loans for all borrowers with a household income of $100,000 or less. Her plan would offer partial forgiveness to those who make between $100,000 and $250,000, and no forgiveness to those who make more than $250,000.

Warren’s campaign website now has an interactive tool that shows borrowers how much loan forgiveness they could receive under her student loan cancellation plan.


Joe Biden, former vice president and former U.S. senator

*Simplify income-driven repayment plans, and allow student loan borrowers who make less than $25,000 to reduce their payments to $0 without accruing interest on their debt. Borrowers who make more than $25,000 annually would pay just 5% of their discretionary income (the current plans cap payments at 10% or more) and be eligible for forgiveness after 20 years.

*Simplify the Public Service Loan Forgiveness program and allow eligible borrowers to get $10,000 in forgiveness annually for up to five years


Sen. Bernie Sanders (I-Vt.)

*Cancel all outstanding U.S. student loans, totaling $1.56 trillion, regardless of borrowers’ income levels, a move which Sanders says would boost the economy by about $1 trillion over the next 10 years and create 1.6 million new jobs annually. He also says canceling student debt would give millions of Americans the resources they need to buy a home, purchase a car or start a small business.

*** Information above is NOT what these candidates will do for present and future school loan holders. Hope this helps you and the others vote for what is in your personal interest.