Bernie Sanders intends to write off all debts on student loans to Americans

The student debt of 45 million Americans has already exceeded $1,6 trillion. 2020 presidential candidate Bernie Sanders is looking to cancel all student debt for both private and public schools to lift the debt burden on the nation.

Фото: Depositphotos

On Monday, June 24, Sanders announced a political proposal calling on the federal government to completely cancel the student debt of Americans, writes Fox News with reference to The Washington Post. The package of proposals also includes the idea of ​​making education free at state universities, community colleges and colleges.

NEW: Sen. Bernie Sanders details plan to cancel $ 1.6 trillion in student debt for everyone, saying the plan ends "the absurdity of sentencing an entire generation ... to a lifetime of debt for the 'crime' of doing the right thing." https://t.co/rg5o3KHHMX pic.twitter.com/CIkx5MmX6B

- Nightline (@Nightline) June 24, 2019

Reportedly, Sanders plans to pay all of the above to Wall Street, which he says will bring more than 10 trillions of dollars over 2 in years. The tax will focus on financial transactions: for example, 0,5-interest tax on operations with shares and 0,1-interest tax on bonds.

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On Monday, Sanders joined Member of the House of Representatives Ilhan Omar, who submitted to the House of Law on the elimination of all student debt in the United States. Member of the House of Representatives Pramila Jayapal, co-chairman of the Progressive Assembly of the Congress, also took part in the proposal.

“This is truly a revolutionary proposal,” Sanders said in a statement. “In a generation hit hard by the Wall Street crash of 2008, this proposal would forgive all student debt and end the absurdity of condemning an entire generation to a lifetime of debt for the crime of getting a college education.”

Senator Elizabeth Warren, another candidate in the 2020 election of the year, announced in April a plan to cancel existing student loan debt for millions of Americans.

On the subject: In 2020, millions of Americans can write off student loan debts

According to the Warren plan, each student’s debt will be reduced by 50 000 dollars if the household income is up to 100 000 dollars. More affluent families will also be eligible for significant debt reduction. It will not receive only those whose income is more than 250 000 dollars per year. Debt cancellation will be proportionate.

“For example, a person with a household income of $130 would receive a write-off of $000, and a person with a household income of $40 would receive a $000 write-off,” Warren wrote in her blog at the time.

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