The general idea is that students who attend a four-year public college would have their tuition and debt reduced almost to zero through a combination of moves. The federal government would increase its aid to states for higher education, so schools could bring down tuition. Pell Grants would be increased for low-income students, and with lower tuition this money could be spent by students on costs like books. Colleges themselves would be tasked with reducing some of their spending so that it cost less to educate each student.
The liberal think tank Demos has released a plan they say would create debt-free college for students in 26 states at a cost of around $30 billion. They would fund it either through re-allocating existing tax credits and deductions for higher education, or through new taxes and fees on the wealthy and Wall Street.
Only students whose family income (for a family of four) is under $72,000 would be eligible under the Demos plan.