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If you are like the other 45 million Americans carrying student loan debt, Democratic candidate Bernie Sanders has a plan for you – he wants to cancel all $1.6 trillion in student loan debt with the signing of legislation.
Sanders plans to pay for this aggressive loan elimination by creating new Wall Street taxes, which would include .5% tax on stock trades (Which works out to about 50 cents for every $100 worth of stock traded).
With this new legislation, he expects to raise over $2.4 trillion within ten years time which will also help fund his “College For All” program that plans to provide free tuition to all four-year schools and community colleges.
Elizabeth Warren has been trending in the polls lately after revealing she wants to help eliminate student loan debt for those who qualify to help bridge the racial wealth gap, but Joe Biden is still pulling ahead.
The first democratic debate is scheduled this week over two nights, Wednesday and Thursday. This will be the first time this election campaign we will see the democratic choices square up against each other – and you can expect that student loans will be a hot topic.
