Elizabeth Warren Announces 'Free College' Plan on Lenin's Birthday

Presidential candidate Sen. Elizabeth Warren rolled out a higher-education plan Monday

Presidential candidate Sen. Elizabeth Warren rolled out a higher-education plan Monday

Warren's plan would also establish a $50 billion (minimum) fund for Historically Black Colleges and Universities and Minority-Serving Institutions, "ban for-profit colleges from receiving any federal dollars", and "prohibit public college from considering citizenship status or criminal history in admissions decisions". Amy Klobuchar, D-Minn., has said she opposes tuition-free four-year public college, although she favors free community college. "It's how the daughter of a janitor in a small town in Oklahoma got to become a teacher, a law school professor, a U.S. Senator, and eventually, a candidate for President of the United States", she wrote.

"The time for half measures is over", Warren wrote in a blog post.

It would also provide a scaled cancelation for households with income between $100,000 and $250,000.

Warren spelled out the details of her proposal in a post on Medium, where she argued that student loan debt is "crushing millions of families and acting as an anchor on our economy". This would phase out the $50,000 number by $1 for every $3 in income above $100,000, Warren said.

Warren's campaign estimates her proposal would wipe out more than 40 percent of the $1.5 billion in student debt held by more than 40 million Americans.

'A silent tax on an entire generation;' Sen.

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A recent Federal Reserve study found that Americans under the age of 35 are spending less than previous generations have due to their student debt burden, slowing economic growth and lowering homeownership rates. Her proposal would invest an additional $100 billion over the next decade in Pell Grants, too.

Individuals with incomes of more than $250,000 would not have their debts reduced.

"It's not enough to make sure every American can graduate from a public college debt-free".

With a price tag of $1.25 trillion over 10 years, Warren's higher-education initiatives up the ante on an issue that most 2020 Democratic presidential candidates have been trying to address in more modest ways.

Late last week, she distinguished herself by becoming the first major candidate to call for impeachment proceedings against President Donald Trump after the release of special counsel Robert S. Mueller III's report on Russian interference in the 2016 election.

She said her college plan would be paid by a "wealth tax" levied against Americans with assets valued at more than $50 million, which her campaign says will raise $2.75 trillion over a decade.

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