More than 95% of student loan borrowers would see at least some of their debt canceled under Democratic presidential candidate Elizabeth Warren's new higher education proposal released Monday.

That's the finding in an analysis of the plan by leading experts on student loan debt.

The Massachusetts senator outlined her proposal in a Medium post on Monday. "I'm calling for something truly transformational — the cancellation of up to $50,000 in student loan debt for 42 million Americans," she wrote.

Under Warren's plan, all but 5% of borrowers would walk away from at least a portion of their student debt. Meanwhile, more than 75% of student loan borrowers would have all of their debt erased.

Borrowers need not apply for the relief: The government would automatically cancel the debt of eligible borrowers, using already available income and loan data.

According to the researchers' analysis, Warren's proposal would greatly benefit borrowers with the least ability to repay their loans. (By 2023, nearly 40% of borrowers are expected to default on their student loans, an event that only increases their debt and devastates their credit.)