Presidential candidate has big plans to relieve student loans

Bianca Roman, Reporter

College is something that many students are thinking about already. But sometimes some students have to rethink about going to college due to financial reasons, so some students turn to earning scholarships and applying for student loans. Student loans are a loan offered to students which is used to pay off education-related expenses, such as college tuition, room and board at the university, or textbooks, and they are very common for young students today. People spend years after college trying to pay off the student loans because of how much of in debt they are in.

That may change very soon for people. Elizabeth Warren is a democratic senator for the state of Massachusetts and is running for the 2020 presidential election. She wants to solve most of student loan debt and wants to provide free public college. She plans on having the government pay off some of people’s student loans. It is going to cancel $50,000 of debt for people in households who make less than $100,000 per year. Warren also plans that the cancelation of debt won’t be taxed like income for when people do their taxes in the beginning of the year. This sounds like a very good plan to many people, for example, an expert says that the plan has benefits that are neutral to good. The expert even said, “This would certainly boost spending by households, who would be wealthier (since debt has been extinguished) and have more disposable income since debt service payments are no longer needed. There is definitely research indicating that student loan payments are holding back home and car purchases — particularly for young adults” So not only would it benefit people who have student loans and are trying to pay them off but also for the rest of America, especially big brand name companies.  Some people think that it is a great idea and it will really help the economy rise up, they also see why she would want to relieve that stress that most people have with debt from college. They are also happy that future generations might have free college education. But others aren’t as happy and even think that it is offensive to the people who worked hard to pay off their student loans.