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Sanders unveils sweeping plan to wipe out college debt, costs

By
Clyde Hughes
Sanders' plan would make two- and four-year public institutions tuition-free. File Photo by Alex Edelman/UPI
Sanders' plan would make two- and four-year public institutions tuition-free. File Photo by Alex Edelman/UPI | License Photo

June 24 (UPI) -- In perhaps the boldest plan yet on tackling college debt, 2020 Democratic hopeful Bernie Sanders unveiled a plan Monday to wipe out all $1.6 trillion in college student debt, regardless of income status.

Under Sanders' plan, new taxes on Wall Street would pay off student debt. The self-described socialist-Democrat brought the issue of college-debt and tuition-free higher education to the forefront during his 2016 presidential campaign. This year, he, candidate Elizabeth Warren and others are introducing their own plans to address the issue.

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The Vermont senator called the plan the "College for All Act," which would free about 45 million Americans from debts stemming from higher education.

"This is truly a revolutionary proposal," Sanders told The Washington Post. "In a generation hard hit by the Wall Street crash of 2008, it forgives all student debt and ends the absurdity of sentencing an entire generation to a lifetime of debt for the 'crime' of getting a college education."

Sanders' plan would make two- and four-year public institutions -- as well as trade schools and apprenticeship programs -- entirely tuition-free.

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Warren revealed her own student debt plan in April, which would set income eligibility levels. She said the plan would be an "enormous middle-class stimulus" that would boost economic growth, increase home purchases and create more small businesses.

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