The plan could potentially result in the cancellation of billions of dollars of student loans, and could benefit tens of millions of student loan borrowers. While the vast majority of the $1.5 trillion in outstanding student loan debt is federal, there are hundreds of billions of dollars of private student loan debt that is crushing borrowers. Senator Warren did not specify whether her plan would apply to private student loans. Even if we assume that only federal student loans would be eligible for Warren's debt forgiveness proposal, it does not necessarily mean that all federal loans would qualify. Would married couples where both spouses have student debt be treated differently from couples where just one spouse has student debt?

Source: Forbes April 24, 2019 12:55 UTC