Elizabeth Warren's student debt calculator tells you how much of your debts could be canceled if she is elected chair

Senator Elizabeth Warren on Friday launched an online calculator that determines the amount of student loan debt that would be forgiven, per person, if she were elected president in 2020.

Last week, the Massachusetts senator unveiled a plan to raise taxes not only to pay off the debt of nearly 43 million people – up to $ 50,000 per student – but also to help students benefit free tuition fees with the help of state governments.

Warren has announced his calculator online on Twitter.

"I have a plan to cancel the student loan debt of 42 million Americans – and we have a new calculator to help you determine the amount of your debt that would be canceled. Try us and tell us how much of your student loan debt will be canceled. #CancelMyDebt, "she wrote.

the debt calculator asks first "Do you have student debts?" Once the user has answered "Yes", he asks what type of institution the loan was for: junior college, four-year college, graduate school, vocational or technical school or vocational training. program.

He then asks what is the unpaid student loan debt, then what is your income last year.

For the purposes of this report, a student loan debt of $ 45,000 outstanding at a four-year university was recorded, as well as an income of $ 45,000 for the previous fiscal year. The results indicated that all remaining debt of the student would be forgiven.

"Good news! All your debts will be canceled as part of Elizabeth's plan.

"Elizabeth's plan is not a" pie-in-the-sky "idea: it's a proposal that would have a tangible impact on the lives of millions of Americans – and 100% of that amount would be paid by Elizabeth's Ultra-Millionaire tax.A plan would have a personal meaning for you or for someone you know, sign up to support it, "reads on the site.

Warren's plan provides for a wealth tax, which would mean a 2% increase in wealth over $ 50 million and 3% over $ 1 billion.

"For two cents on a dollar, we could pay for universal child care, universal pre-kindergarten, universal college and ease the burden of student debt by nearly 43 million Americans, while still keeping close to $ 1 trillion, "Warren told CNN. "It tells you how much our economy is in crisis right now."

Warren said his plan would eliminate student debt by 75 percent of Americans and invest $ 50 billion in historically black universities and universities.

Warren is among the 21 Democrats who said they would run for president in 2020.

Democratic presidential candidate, US Senator Elizabeth Warren (D-MA), speaks at the National Forum on Wages and Workers: Creating an Inclusive Economy at Enclave on April 27, 2019 in Las Vegas, Nevada ). Six candidates for the 2020 Democratic presidential election participate in the forum organized by the Service Employees International Union and the Center for the American Progress Action Fund to share their economic policies. Photo of Ethan Miller / Getty Images