Democratic Senator Bernie Sanders is proposing to wipe the outstanding $1.6tn of student loan debts, which would be paid for by a new tax on Wall Street speculation. The proposal has been criticised as an attack on poor people and students who are struggling with their debts. Sanders' proposal is part of a wider "college for all" programme that would include free tuition at all four-year public colleges, universities and community colleges, as well as subsidies for low-income students at private colleges.
Democratic Senator Bernie Sanders is proposing to wipe the outstanding $1.6tn of student loan debts, which would be paid for by a new tax on Wall Street speculation. Meanwhile, Sanders' Democratic presidential rival Senator Elizabeth Warren plans an income-based debt relief package aimed at closing the racial wealth gap. Sanders' proposal is part of a wider "college for all" programme that would include free tuition at all four-year public colleges, universities and community colleges, as well as subsidies for low-income students at private colleges.