Sen. Bernie Sanders (I-Vt.) on Monday proposed eliminating all $1.6 trillion of U.S. student debt and making all public universities, community colleges, and trade schools tuition-free. His plan is broader and more expensive than those offered by fellow 2020 Democratic presidential candidates Sen. Elizabeth Warren (D-Mass.) and Julián Castro. Sanders says he will pay for it with a tax on stock transactions and bonds. Whereas competing plans would help only lower-income Americans, Sanders proposes to cancel all student debt, including for private colleges and graduate schools. Critics say the proposal would primarily help educated Americans who typically earn more.

Scroll for 5 things you
need to know now