Democrats’ $50,000 student loan forgiveness plan would make 36 million borrowers debt-free
CNBC
Annie Nova
February 4, 2021
KEY POINTS
-
The Senate’s top Democrat, Chuck Schumer of New York, along with Sen. Elizabeth Warren, D-Mass., and other Democrats on Thursday put forward a resolution calling on President Joe Biden to forgive $50,000 in student debt for all borrowers.
-
The plan would cancel all of the debt for 80% of federal student loan borrowers.
-
Women and people of color would be among the biggest winners.