Elizabeth Warren says she will go around Congress to cancel $1.6 trillion of US student debt on 'day one' as president

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• Sen. Elizabeth Warren rolled out a plan on Tuesday pledging to start forgiving the US's $1.6 trillion in student loan debt on the first day of her presidency without Congress.
• Last year, Warren put forward a plan to forgive a substantial amount of student loan debt for millions of Americans.
• Warren now pledges to achieve her student loan forgiveness plan through the Department of Education, citing existing legal powers.
• The plan would likely run into opposition in Congress, where Republicans and even some Democrats are wary of its high costs.
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Sen. Elizabeth Warren said on Tuesday that she would circumvent Congress and start cancelling the nation's $1.6 trillion in student debt on "day one" as president. She would draw upon her executive power to do so.

Warren's $640 billion loan forgiveness plan — rolled out last year — would slash up to $50,000 in debt for student loan borrowers making less than $100,000. It's also designed to gradually forgive debt for people earning up to $250,000.

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