In the 2020 US presidential election, among the 20 declared Democratic candidates, one of the hottest topics is "free college."
Democratic Senator Elizabeth Warren proposed to forgive existing student loan debt for millions of Americans. This is the most distinctive among a series of education funding proposals announced by her and other presidential candidates.
Warren's new plan would provide $50,000 in student loan relief for American households earning less than $100,000 per year, offering immediate relief to over 95% of the 45 million Americans with student debt.
As income increases, the amount of relief gradually decreases, with households earning over $250,000 ineligible for any debt forgiveness.
In addition to Warren, New Jersey Democratic Senator Cory Booker, New York Democratic Senator Kirsten Gillibrand, and California Democratic Senator Kamala Harris have also expressed support for the "free college" proposal.
The Massachusetts Democrat and 2020 presidential candidate also called for a significant increase in federal higher education spending, which would make tuition and fees free for all students at two-year and four-year public colleges, and expand grants for low-income students to cover housing, food, books, childcare, and other costs.
The concept of "free college" was actually proposed by Democrat Bernie Sanders during the 2016 presidential race. At the time, Sanders' proposal was once considered "fringe" and "not ready for prime time," and did not resonate strongly within the Democratic Party during that campaign.
Three years later, "free college" has become a plan that almost every Democratic presidential candidate discusses on the campaign trail, with a large base of support among younger voters.
"Free college" has become a popular slogan in recent years. Hillary Clinton also proposed tuition-free plans for low- and middle-income students, and several states including New York, Oregon, Tennessee, and Rhode Island have recently implemented some form of tuition-free program.
Public opinion polls show broad support for making higher education more affordable through tuition-free college.
Warren's proposal also makes significant investments to help low-income students cover non-tuition costs associated with college. She wants to invest an additional $100 billion in Pell Grants over the next 10 years, enabling more students to receive scholarships and increasing the grant amounts.
Currently, the lowest-income students are eligible for about $6,200 per year from the federal Pell program.
"The student loan debt problem should be solved comprehensively, not partially. Broadly canceling this debt is the real solution that helps ease the burden on millions of families," Warren said.
"Higher education has opened a million doors for me," Warren said when announcing the plan. "It enabled the daughter of a cleaning man in a small town to become a teacher, then a law school professor, a US senator, and now a presidential candidate."
So, who pays for this?
Warren said the costs of "free college" and debt forgiveness would be covered by the "Ultra-Millionaire Tax" proposal.
This proposal refers to a 2% annual wealth tax on the portion of assets over $50 million for wealthy Americans, and a 3% tax on the portion over $1 billion.
Warren's plan would also create a fund of at least $50 billion aimed at ensuring that per-pupil spending at historically black colleges, universities, and minority-serving institutions remains on par with other regional colleges.
If the US truly achieves "free college" one day, even if the policy does not extend to international students, it would signify that American higher education has reached a new level.
