Warren vows to wipe out student loan debt

Video Credit: Reuters Studio - Duration: 01:43s - Published
Warren vows to wipe out student loan debt

Warren vows to wipe out student loan debt

Democrat Elizabeth Warren outlined on Tuesday how, if elected to the White House, she would on the first day of her presidency cancel federal student loan debt of up to $50,000 dollars by using the Department of Education's pre-existing authority.

Colette Luke has more

In the hours before the Democratic presidential debate in Iowa, U.S. Senator Elizabeth Warren detailed her latest proposal on how - if elected president - she would forgive federal student loan debt of up to $50,000.

She says she can do it her first day in the White House and without Congress... The U.S. Senator from Massachusetts said she would be able to help about 42 million people with their student debt by using the Department of Education's pre-existing authority, which she says gives the Secretary of Education the power to wipe away loans on its discretion.

Warren has made affordable college a center piece to her campaign as a way to reduce economic inequality..

(SOUNDBITE) ELIZABETH WARREN SAYING (SOT FROM LAST YEAR) "Even if you don't have any student loan debt, you're paying a price for it, because it's now holding back our economy.

Young people are not buying homes at the ages we'd expect, principle reasons student loan debt.

Young people don't start their own businesses" On Tuesday night, Warren will be one of six candidates to take the stage in the final Democratic debate before the Iowa caucuses in early February… National opinion polls show Warren in the top tier but trailing former Vice President Joe Biden and fellow U.S. Senator Bernie Sanders as 12 Democrats remain vying to take on Trump in November…

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