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Elizabeth Warren's plan to forgive student loan debt is costly, but it could actually pour money into the US economy

Elizabeth Warren's plan to forgive student loan debt is costly, but it could actually pour money into the US economy
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Sen. Elizabeth Warren, a Democrat from Massachusetts and 2020 presidential candidate, released her proposal to erase a good portion of student loan debt and provide free public college.




The plan was met with mixed reviews online: people were either angry that they had already paid their loans back, or chose a different college to avoid debt in the first place, while others praised her for the move.




Dr. Josh Bivens, research director at the left-leaning Economic Policy Institute, explained in an email to INSIDER that the "short-run macro benefits are neutral to good."




Whether voters are fans of the plan or not (and there are plenty who are not), Warren's proposal has put student debt front and center of the 2020 election debate.




Visit Business Insider's homepage for more stories.



Sen. Elizabeth Warren, a Democrat from Massachusetts and 2020 presidential candidate, released her proposal to erase a good portion of student loan debt and provide free public college.
The plan, released earlier this week, was met with mixed reviews, with Twitter users debating whether it was equitable to people who had already paid off their loans, or those who selected a different school to avoid education debt.
In terms of effects on the US economy, some experts think a plan like Warren's could act as a stimulus.
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