Senator Elizabeth Warren’s Student Loan Forgiveness

Senator Elizabeth Warren's
Student Loan Forgiveness

Senator Elizabeth Warren’s Student Loan Forgiveness

Senator and prospective 2020 presidential candidate, Elizabeth Warren, has revealed her intentions for the restructuring of not just student loan forgiveness programs, but the education system and its tuition-based infrastructure entirely. Senator Warren has long been known for her far-left, ideological approaches to solving education issues, so it comes as no surprise to anyone that she propose a plan to abolish student loan debt.

Under Senator Warren’s solution, 95% of student loan debt holding Americans would see their debts cancelled. As of this moment in time, the current model of student loan forgiveness in which a students loans get forgiven by the government is based on a well structured model of income x debt total x state of residency’s poverty line + time. Basically, the less wealthy get more forgiven but it doesn’t happen overnight. They’re expected to at least attempt to make payments over a certain number of years, even though it’s sometimes as little as $5 or even $0 a month. 

This model is one based upon fairness, though many in our country would seek to alter it to be much more inclusive.

Under Elizabeth Warren’s Student Loan Forgiveness Plan, many more people will enjoy having their federal student loan debts discharged. Funding for this abandonment of debt is to be allocated from tax revenue appropriated from the wealthy citizens of our nation. New proposals to tax the wealthy are plentiful; Senator Warren has publicly endorsed various bills such as one that would force slavery reparations to be paid or one that is straight blanket tax raise on anyone over a certain income. Taking that into account, being able to actually afford her new Student Loan Forgiveness plans is more than plausible. If her plans come to fruition, former students of federal colleges are going to benefit greatly.

So, what about new/future students? Why, universal college tuition of course! The funding and functionality of her cost-free university ideas are quite similar to those we’ve seen proposed by famed Vermont Senator, Bernie Sanders. Needless to say, they involve heavily taxing the rich and lowering federal cost requirements.

This all sounds pretty great; student loan debt cancellation? Free universal college tuition?? There’s not a former college or university student in America that wouldn’t take that opportunity. But, as much as we all want it to happen, there’s a fair chance that these dreams will never come to pass. Unfortunate as that is, we can’t control the outcome of reality. We can, however, guard against possible eventualities and make sure that the decisions we make now will positively affect our futures.

Current student loan forgiveness programs aren’t nearly as appealing as those proposed by Elizabeth Warren, but they are already in effect and, what’s more, most people find themselves qualified for one of the various programs available. It’s no wonder that the number of people enrolling in student loan forgiveness is growing daily – even if the current plans disappear and get replaced by Senator Warren’s, there will have been very little to no harm done to you, your mind or most importantly your wallet. The responsible thing to do is to take a simple, 10 minute quiz to see if you are in fact eligible for federal student loan forgiveness. If you qualify, it’s as simple as enrolling. At least after that you won’t have to worry about the heartache of struggling to make your monthly student loan payments, or the other strife ridden troubles that follow suit when one is drowning in debt – and hey, if Senator Warren’s student loan forgiveness plans never happen, you will still end up winning in the end.

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