And it only costs $2.2 trillion.
Via Campus Reform:
Sen. Bernie Sanders (I-Vt.) announced Monday a new plan that would cancel Americans’ student loan debt and make tuition free at all public two and four-year colleges.
According to The Washington Post, Sanders is proposing that the government eliminate all $1.6 trillion in student loan debt that is owed by 45 million Americans. Rep. Ilhan Omar (D-Minn.) and Rep. Pramila Jayapal (D-Wash.) joined Sanders on Monday at his announcement. Omar and Jayapal are expected to introduce a bill in the House of Representatives, which would cancel all student loan debt in the U.S.
“Today we are, in fact, offering a revolutionary proposal,” Sanders said, “a proposal that will transform and improve our country in many, many, ways in a highly competitive global economy when we need the best-educated workforce in the world, this proposal would make possible for every person in America to get all of the education they need, regardless of their financial status.”
According to a fact sheet released by Sanders’ office, the estimated cost of the bill, $2.2 trillion, would be paid for by creating a Wall Street speculation tax of .05 percent on stock trades, a .005 percent fee on derivatives, and a 0.1 percent fee on bonds.