Sanders, progressives unveil bill to cancel student debt

Eighteen of the 24 declared Democratic hopefuls will take the stage Sunday for their strictly-enforced five-minute speeches to hundreds of party leaders at the Iowa Democratic Party's annual summer fundraiser. (Source: Gage Skidmore/ MGN)
By  | 

WASHINGTON (AP) -- Sen. Bernie Sanders and progressives in the House are rolling out legislation that would cancel all student debt affecting 45 million Americans, going further than a plan by one of his leading Democratic presidential rivals, Sen. Elizabeth Warren.

Warren's plan would cancel $50,000 in debt for those earning less than $100,000 per year, affecting an estimated 42 million Americans -- a large but still smaller pool of borrowers than Sanders' plan. She proposed hers earlier this year.

Sanders and Warren are vying for the support of liberal Democratic voters. They are among 20 hopefuls set this week to debate for the first time, with Warren appearing in Tuesday's lineup and Sanders debating a day later.