This Senator Warren plan on student loan debt?
Well, here's the simplicity of the deal. As long as you make under $100,000 (even if unemployed today)....her deal would cancel out $50,000 of the debt. If you had $120,000 at age 22? Well....it'd only resolve part of your issue....you'd still owe $70k.
Amount that it'd add up to? Well....she says $640 billion. I have my doubts and an audit might suggest it closer to $1-trillion.
Where would the $640 billion come from? Taxes. So you folks who never went to college, or made it debt-free through college? Well....you'd pay for the debt folks.
The more that this gets brought up.....the more frustrated non-debt folks would get over this free deal. If this were me, and I were debt free....even at age 60...I'd do the paperwork for college loan, borrow the money, and blow it on Vegas gambling, a around-the-world cruise, or an RV camper.
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