Portrait of Elizabeth Warren
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Elizabeth Warren on Student Loans

Broad Debt Cancellation Advocate (strong)

Elizabeth Warren maintains a firm position that the student loan crisis requires significant federal intervention, centering her advocacy on large-scale debt cancellation. She has repeatedly pushed plans, both during her presidential campaign and as a sitting Senator, to use executive authority or legislation to cancel substantial amounts of student debt, aiming to provide relief to tens of millions of Americans. Beyond immediate cancellation, Warren connects this issue to broader educational equity, advocating for making public college and technical school tuition-free to prevent future debt accumulation and address racial disparities in higher education access and completion.

Timeline

  1. Warren and Representative James E. Clyburn introduced legislation proposing the cancellation of up to $50,000 in student loan debt for Americans with household incomes under $100,000.
  2. During her presidential campaign, her plan outlined debt cancellation tiers: up to $50,000 for households earning under $100,000, and scaled-back relief for those earning up to $250,000.
  3. Following President Biden's initial forgiveness announcement, Warren viewed it as a positive step providing relief to 20 million Americans, but stated she wanted and would continue to fight for more cancellation.

Actions Taken

  1. Legislation Proposal
    Proposed legislation with Representative Clyburn to eliminate up to $50,000 in student loan debt for 42 million Americans whose household incomes were less than $100,000.
  2. Executive Plan
    Pushed for the Department of Education to use its existing legal authority to begin canceling up to $50,000 in debt for 95% of borrowers on day one of a potential presidency.
  3. Legislative Advocacy
    Fought to ensure Congress provided $700 million in a relief fund for public service workers who missed technical requirements for loan forgiveness.
  4. Regulatory Action
    Fought to cancel loans for 80,000 students defrauded by Corinthian Colleges.

Key Quotes

I will start to use existing laws on day one of my presidency to implement my student loan debt cancellation plan that offers relief to 42 million Americans.

elizabethwarren.com January 1, 2020 — Stating her intent to use executive authority for debt cancellation.

We're facing a student loan crisis -- one that's holding back our economy and crushing millions of American families.

elizabethwarren.com January 1, 2020 — Explaining the severity of the national student debt issue.

I wanted more, and I will still fight for more.

pbs.org August 25, 2022 — Commenting on President Biden's initial student loan forgiveness move.

Related Positions

  • college-affordability Warren couples debt cancellation with a call for new laws making public college and technical school tuition-free to prevent future debt.
  • for-profit-colleges She advocates for banning for-profit colleges from receiving federal aid to curb predatory lending practices.
  • racial-equity Her plans emphasize curbing student debt and improving college access to help close the racial income gap, particularly for Black and Hispanic families.
Sources4

* This is not an exhaustive list of sources.