Bernie Sanders Wants to Cancel All $1.6 Trillion in Student Loan Debt

Bernie Sanders is really trying his hardest to win the 2020 presidency.

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Bernie Sanders is really trying his hardest to win the 2020 presidency. The Democratic presidential candidate announced a plan on Monday to erase the country’s $1.6 trillion outstanding student loan tab — which would be the biggest and most ambitious proposal yet from the over two dozen Democrats running for president in 2020.

Going forward, the plan would also make college tuition-free at all public colleges as well as the nation’s historically black colleges and universities, according to The Washington Post.

“It is simply not acceptable that our younger generation, through no fault of their own, will have a lower standard of living than the previous generation,” Sanders said at a news conference.

The proposal is the latest from a Democratic presidential candidate that aims to tackle the big problem of student debt. As we previously reported, Sen. Elizabeth Warren, Sanders’ rival for the 2020 Democratic presidential nomination, also issued a plan back in April to forgive student debt for college grads. Her proposal, which would cost $640 billion, would offer assistance to people with incomes up to $100,000 and cap loan forgiveness at $50,000 per person.