Warren's criticisms come after McConnell said during a town hall meeting that it wasn't the government's job to forgive the "obligations that have been voluntarily incurred" by students.
"Not everybody needs to go to Yale," he said.
Warren condemned McConnell's remarks during a speaking engagement at Make Progress Wednesday.
"Mitch McConnell believes that when it comes to a choice between protecting tax loopholes for billionaires or reducing student loan interest rates, he will work to protect every last dollar of every last tax loophole. And then he tells students to dream a little smaller, to do with less and give up a little sooner. His vision for America is that no one reaches higher than they can already afford."
This is not the first time Warren has spoken out against McConnell on the issue. After her student loan bill was blocked in the Senate, she traveled to Kentucky to endorse McConnell's opponent Alison Lundergan Grimes. McConnell is facing a tight race against the Democratic candidate in November.