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- Senator Elizabeth Warren, a Democratic presidential candidate, proposed canceling up to $50,000 in student-loan debt for 42 million Americans.
- Overall, her plan would account for canceling as much as $640 billion in student debt.
- According to the Department of Education, residents of California owe as much as $128 billion in student debt altogether, while residents of Texas owe as much as $100 billion.
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Having announced her bid for candidacy in the 2020 presidential election, Massachusetts Senator Elizabeth Warren has begun rolling out her platform. In a Medium blog post on Monday, Senator Warren proposed a plan to cancel as much as $50,000 in student-loan debt for 42 million Americans.
With American millennials owing more than $1 trillion in debt in 2018, largely from student loans, the proposal could find a lot of support countrywide.
Enterprise Data Warehouse and Analytics, a system within the Office for Federal Student Aid under the Department of Education, calculated how much residents of each US state owe in student debt altogether, as well as what each resident owes on average. Here’s what the state-by-state breakdown looks like.
Alabama residents owe $20,270,000,000 in student loan debt.
Ttownfeen/Wikimedia Commons
On average, Alabama borrowers owe $34,425 each.
Alaska residents owe $2,100,000,000 in student loan debt.
Associated Press
On average, Alaska borrowers owe $31,818 each.
Arizona residents owe $26,950,000,000 in student loan debt.
Tim Roberts Photography/Shutterstock
On average, Arizona borrowers owe $32,934 each.
See the rest of the story at Business Insider
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- I saved $106 in 1 week by cooking all my meals instead of eating out
Source: Business Insider – feedback@businessinsider.com (Gili Malinsky)