US Election: Elizabeth Warren Proposes Canceling Students Debt for over 40M People

U.S. Senator Elizabeth Warren, who is seeking the Democratic nomination for the 2020 presidential election, proposes to cancel billions of dollars in student loan debt and make college cheaper for students going forward.

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“We got into this crisis because state governments and the federal government decided that instead of treating higher education like our public school system ― free and accessible to all Americans ― they’d rather cut taxes for billionaires and giant corporations and offload the cost of higher education onto students and their families,” she wrote Monday. 

Warren, in a post on the website Medium, proposed canceling US$50,000 in student loan debt for anyone with annual household income under US$100,000, which her campaign said would amount to 42 million United States citizens. It would also cancel some debt for those with household incomes between US$100,000 and US$250,000 told Reuters.

While Warren is being cheered on by some progressives in the United States, as a result of such proposals for domestic issues, others on the left in the U.S. criticize her for being a proponent of free market and capitalism and failing to reject the decades-long intervention state-policies of her country. 

In a recent speech at American University, Warren suggested she was in favor of the interventionist policy of the United States. "it’s time to create a foreign policy that works for all Americans, not just the rich and powerful. Authoritarianism is on the move around the world; there is no time to waste." She also stated that her position was a "no first use" nuclear weapons policy.

"At the same time, we must refocus our security policies by reining in unsustainable and ill-advised military commitments and adapt our strategies overseas for the new challenges we see in this coming century," she said.

She shared her vision of international policy and told the audience that "efforts to bring capitalism to the global stage unwittingly helped create the conditions for anti-democratic countries to rise and lash out. Russia has become belligerent and resurgent. China has weaponized its economy without loosening its domestic political constraints. And over time, in country after country, faith in both capitalism and democracy has eroded."

Earlier in 2018, she declared in an MSNBC TV interview: "I in markets right down to my toes."