“Elizabeth’s new plan will cancel debt for more than 95% of people with student loan debt — and pay for it with a tax on the top 0.1% of Americans,” the site says. “Elizabeth’s plan isn’t some pie-in-the-sky idea: It’s a proposal that would make a tangible impact on millions of Americans’ lives — and 100% of it would be paid for by Elizabeth’s Ultra-Millionaire Tax.”

The online calculator tool, on the Massachusetts Democrat’s campaign website, asks users to answer a couple of questions about the types of student debt they’re carrying and their salaries. Then it produces a dollar figure that would be canceled under the plan.

Senator Elizabeth Warren’s presidential campaign Friday released an interactive tool to help voters determine how much of their student debt would disappear under her ambitious proposal to cancel up to $50,000 in outstanding loans for college graduates in the red.

Warren, who is one of 21 major candidates seeking the Democratic nomination, has said her plan would cost $1.25 trillion over 10 years and would be paid for by a 2 percent tax on wealth above $50 million and an additional 1 percent on wealth above $1 billion. Warren’s campaign says the tax would hit 75,000 families and raise $2.75 trillion over 10 years.


While Warren’s plan has generated a lot of buzz, critics, including at least some of her Democratic opponents, have called it unrealistic, too expensive, an unfair boon to people who fail to pay off debts, and a helping hand to those people who need it less — because they’ve had a chance to go to college.

Attorney Harmeet K. Dhillon, a political commentator and RNC committeewoman from California, wrote in a recent Twitter post that she went on Fox News to discuss “Sen. Warren’s plan to forgive student loans — a bad idea — in the context of the real issue — why are college degrees today such garbage and why are students not able to get good jobs to pay off the loans? Spread the risk!”


Warren spokeswoman Kristen Orthman on Friday pushed back against the criticism. She called the plan “a highly progressive proposal” that would greatly benefit households with the least ability to repay student loans by cancelling debt for 42 million lower-income and middle-class Americans.

Laura Krantz of the Globe Staff contributed to this report. Travis Andersen can be reached at travis.andersen@globe.com. Follow him on Twitter @TAGlobe.