WASHINGTON (AP) — Presidential candidate Elizabeth Warren says she'd order her secretary of education to cancel up to $50,000 in college debt for about 95% of student borrowers on her first day in office, effectively erasing outstanding loans for about 42 million Americans.

The Democratic senator from Massachusetts vowed in a proposal released Tuesday to act immediately and not wait for Congress because the secretary of education already has broad authority to compromise on and modify student loans.

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