WASHINGTON — Presidential candidate Elizabeth Warren says she’d order her secretary of education to cancel up to $50,000 in college debt for about 95% of student borrowers on her first day in office, effectively erasing outstanding loans for about 42 million Americans.
Warren had already promised in previous plans to wipe out student loans for 42 million Americans while offering free tuition at public universities. She’s proposed a wealth tax on fortunes worth $50 million or more to pay for doing so, saying that will raise $2.75 trillion over 10 years. “We’re facing a student debt crisis, and every day counts for families struggling with this burden and for our economy as a whole,” Warren wrote in an online post unveiling her plan.The senator also wants to reduce backlogs so that qualifying borrowers are able to cancel loans through debt forgiveness plans that are already available. She said that could help an additional nearly 1.75 million borrowers.
Nice pandering, so major in jack shit, enjoy partying, rack up debt then get bailed out? Cool... I’m sure that won’t have any unintended consequences.
So what about all the people who worked hard to pay off their own loans? What a slap in the face! lower the interest chargeable on the loans. Give incentives for milestones of early pay off. Work with corporations to help as well. I do not want my tax dollars going for that!
Is she paying for this or are we?
Who will fund this debt cancellation? Is it possible without creating greater imbalances? Nothing I could wish for the benefit of these guys sincerely!
Nice idea, but she doesn’t have a chance.
It sounds great except that there no such things as a free lunch. The U.S. tax payers will probably get stuck paying for the loans.
lol, she's buying votes
it's not free money. everyone else will be paying for it.
Then what the IRS would be in overload processing the forgiven debt as income.🤡🤡🤡
I just wonder how I get the money I paid back?
Simply erase the debt.Any idea people?
Are you serious? I’m not sure why I follow you. If it’s free then you’ve obviously cheapened it. People tend to value things that cost them & was a sacrifice. Wipe out all debt! I mean if a little works... go balls out. $100 minimum wage. Free housing! Feel the Burn
What about the other 42 million that actually paid for their college education. What bullshit it’s nothing but illegal vote buying
And shift that burden to whom?
I have no student debt and I’m not paying for your kids debt. That one of many reason granny isn’t getting my vote
Omg stop with the loan bailout save our lands it will cut people's bills and add more jobs. I'm sick of the loan extravagant.
FakeNewsMedia alert! Please stop campaigning for ewarren. Let her attempt to buy votes through her own marketing channels...
who is paying for that? I paid my loans back this is bullshit
Very unlikely
Just make sure when you cut this debt you are not screwing over educators' pay. Without increasing teacher pay how do we expect to retain the GOOD teachers? Example: Student debt decreased and teacher pay increased doesn't make cents
I would cancel the interest only, not the principal.
yea another free ride sure she will... spend someone elses money....
Can parents who sacrificed big TVs nice new cars and beautiful new homes to pay for the kids education get paid back?
The woman says whatever she can to get elected🤣
And, then to the Gulag with you!
At what cost? And with what net effect?
Warren sounds like Obama. Obama told everyone that he will bring back the job to USA & will stop outsourcing of jobs overseas. Did it happen? Lies. And Warren who is a pathological liar, likes to make similar false promises to gain voters. Same w/ B Sanders who promotes laziness.
Are we also allowed to mention the absolutely huge rocket this would place into the economy? No? Just “socialism?” Oh ok got it.
We’re gonna trade student debt for tax evasion
Can I get money back for my paid student loans? I’d still have a nice chunk if I didn’t pay them off early and waited for the government to save me.
And increase the tax burden on everyone else. Sounds great. Thanks Liz! And thank you Marketwatch for once again supporting communism! The CFR will be quite pleased with you!
And transfer that debt to other Americans
No or pay me for what I paid for college
Freeing us from her would be worth far more.
Yes. So easy. No problems right ? How about those who scraped to pay for college and now have very little $. What do they get ?..
And put the burden on everyone else.
Is that a big write off ha
How dose that teach people responsibility
Welp, Trump saddled regular Americans with freebie tax cuts to billionaires by Medicare cuts....Just sayin
Lol! Bring on more QE
Will Warren refund the “student debt” that was paid by responsible students and their parents? If not, then Warren is punishing people for keeping their promises by making them pay the debt of dead-beats. Warren is promoting a horribly unfair policy & encouraging more defaults.
And burden all other taxpayers
TRUMP 2020!!!
Buy those votes
Once again, MW proves they cannot count. “Freed from debt”? Who do you think gets stuck wth the bill? Moron.
I wonder whether she would cancel my mortgage too.
And make the rest pay for it... I put my kids through college. Do I get my money back? Now I’m expected to put someone else’s kids through college, too?
Lol, she is pandering to everyone and everything
Who's paying for it? Who, who, who?
This clown has sabotage the Democratic Party with her ego bs and lies
Well, SOMEONE has to pay for it. Debt doesn't just disappear.
Insane woman.
Freeing 42 million Americans of their contracted obligation and saddling the rest of taxpaying society with the burden for a service we didn’t receive.
In theory the loans would be paid off over a 5-10 yr period by the ultra rich ($50+ mil) via taxes. Not by us regular folks. Regardless, the problem resides in bad loans to 17-18 yr olds that weren’t taught valuable personal finance lessons growing up & 0 accountability.
Lies. Lies. Lies. Bernie even said it.
BS
Yeah right....She's not even going to make it past 1st base.
$1.5 Trillion......so the rest of us have to pay? Already paid my loans to $0. Take responsibility and own it and pay it off yourself. Nothing is free. You have a education which no one take away. Now use it.
How?
And put that debt on the backs of the taxpayers!!
Buying an election with other peoples money. Come on market watch be truthful
And would saddle all taxpayers with the debt.
Alternative headline: Warren’s largesse would transfer the repayment obligation from 42 million college students onto taxpayers
I’m sure this will make college even more expensive.
The Presidency does not have the power of the purse. That is Congress’ sole domaine
Politicians always talk so sweet, but NO ACTIONS TAKEN😡
And what about those who took loans, got jobs and paid off loans as they knew it was THEIR responsibility to do so? What's ewarren going to do for those fiscally responsible students/employees? How will she try to tie them to her party?
The paraphrase the Iron Lady, problem with socialism is you eventually run out of other people’s money. Pols are always buying votes, but Warren and Sanders’s promises are new lows
She polls so poorly against trump so it’s not happening
And since the Federal government will absorb the debt, that means our children and grandchildren will inherit the obligation to repay it.
Are you seriously reporting on this pipe dream?!
🗣 Wrong. Way. To. Solve. The. Problem. FridayThoughts
All investors need to read up on MMT (Modern Monetary Theory) = Magic Money Tree. You will hear more about as this is what the far left will be pushing...educate yourself on MMT
Maybe some of the schools that took that money should kick in a little. They have bloated administrations.. lazy rivers and ultra sweet rec centers w/climbing walls for the students. Is school didn't cost so much to support this baloney, kids would not have to borrow as much.
E-Beth/Bernie will use MMT and will be lauded at 1st for being smart, for a couple of years and when inflation gets out of control, that’s when you will see 1970s inflation and a stock market which will end very badly.
😂😂😂😂😂 I'll up her ante: When I'm President, I'll cancel everyone's credit card and mortgage debt! (Don't get too excited. I'll never be President either.) 😂😂😂😂😂 Pocahontas may well win the award for the biggest 🐂💩er.
Cancel my mortgage too. She will then get my vote.
And saddle the rest of us with paying if off with increased taxes. The debit has to be paid, the question is do you want to pay your neighbors kid's student loan?
Buying votes
The Labour Party in the UK tried this ‘give things away’ strategy and it did not end well.
And people believe this just like Trumpers believed Hillary would “get locked up”
Totally free right? Clown ass 😂
Marketwatch is democrat motivated
And make everyone else pay for it! Yahoo!
Cancel all of it
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