Democratic hopeful wants to cancel out student debt

One of the Democrats running for President is promising to cancel student debt for millions of people.

Elizabeth Warren, unveiled her plan earlier this week, and told CNN exactly who would benefit from this.

“Anyone who has got outstanding student loan debt can have up to 50-thousand dollars of that student loan debt cancelled out,” Warren told CNN.

Warren went on to say there’s a catch. That break only comes if your family income is under $100 thousand. And if you make over $250 thousand you wouldn’t get any help at all. Texas economist Ray Perryman says that's not a solution.

“What we need to do is fix the system that leads to this student debt,” Perryman explained. “We need to find more ways to have more accessible education for people and that sort of thing.”

Texas Republican strategist Matt Mackowiak says Warren is pandering to younger voters.

“It’s a fairly craven attempt to motivate young voters to support her. There’s nothing more appealing to young voters than a free lunch,” Mackowiak said.

Critics of Warren's plan also say it's not fair to those who have paid off their debts; that they are penalized for being diligent with their financial planning.

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