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Elizabeth Warren. Photo: Sergio Flores/Getty Images

The Brookings Institution released an analysis of Democratic presidential candidate Sen. Elizabeth Warren's student debt-forgiveness plan, illustrating that it would help higher income earners or those who have post-graduate degrees.

Details: Warren has proposed a plan that would cost $640 billion to erase the debt of 75% of Americans who grapple with ongoing student loan obligations.

By the numbers:

  • Brookings estimates that 48% of the $640 billion would be earmarked for the top 40% of earners, or households that make more than $67,847 annually, the Wall Street Journal reports. This indicates that more than half of the benefits of Warren's proposal are distributed to American families that make less than $68,000 each year.
  • Nearly 60% of relief goes to families headed by someone with a bachelor's degree or who only finished some college or associate's degree.
  • 25% of the debt relief would go to people with professional degrees, doctorates or those who have managerial jobs.
  • About 28% would go to the bottom 40% of earners with college debt.
  • Nearly 10% would go to the bottom 1/5 of households with college debt.
  • No one who makes more than $250,000 annually would receive any money.

Go deeper: Elizabeth Warren: Everything you need to know about the 2020 candidate

Editor's note: This story has been corrected to remove the word primarily in reference to how Warren's plan will benefit higher income earners, and reflect specific figures within the Brookings Institution's study.

Go deeper

Updated 3 hours ago - World

Biden reviews U.S. arms deals with Saudi Arabia and UAE

Trump struck several large arms deals with Mohammed bin Salman (L) and Saudi Arabia. Photo: Kevin Dietsch-Pool/Getty Images

The Biden administration has put on hold two big arms deals with Saudi Arabia and the United Arab Emirates which were approved in the final weeks of the Trump administration, a State Department official told Axios.

Why it matters: The sales of F-35 jets and attack drones to the UAE and a large supply of munitions to Saudi Arabia will be paused pending a review. That signals a major policy shift from the Trump era, and may herald sharp tensions with both Gulf countries.

Trump supporter found with pipe bombs accused of plot to attack Democrats

Five improvised explosive devices that the FBI says "were fully operational and could cause great bodily harm or injury if handled improperly." Photo: FBI/Justice Department

The FBI believes California Gov. Gavin Newsom (D) and the Bay Area headquarters of Twitter and Facebook were targets of a man facing federal explosives charges, according to a criminal complaint.

Driving the news: Prosecutors charged Ian Benjamin Rogers after finding weapons including five pipe bombs, 49 guns and thousands of rounds of ammunition following a Jan. 15 search of his Napa County home and auto repair business. His alleged goal was to ensure former President Trump remained in office.

7 hours ago - Health

Fauci: COVID vaccine rollout needs to prioritize people of color

Anthony Fauci. Photo: Alex Wong via Getty Images

Infectious disease expert Anthony Fauci highlighted the need to address racial disparities in the COVID-19 vaccination process, per an interview with The New England Journal of Medicine on Wednesday.

What he’s saying: "I think that's the one thing we really got to be careful of. We don't want in the beginning ... most of the people who are getting it are otherwise, well, middle-class white people."

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