U.S. Senator and Democratic presidential hopeful Elizabeth Warren is seen during a live CNN Town Hall moderated by Anderson Cooper at Saint Anselm College on Monday, April 22, 2019, in Manchester, N.H. Elijah Nouvelage for CNN
Elijah Nouvelage for CNN
U.S. Senator and Democratic presidential hopeful Elizabeth Warren is seen during a live CNN Town Hall moderated by Anderson Cooper at Saint Anselm College on Monday, April 22, 2019, in Manchester, N.H. Elijah Nouvelage for CNN
Now playing
03:15
A look into Elizabeth Warren's college plan
Now playing
01:24
How Kyra Sedgwick got the cops called on Tom Cruise
Now playing
05:18
Anderson Cooper explains how he overcomes being shy
US Navy
Now playing
01:28
Pentagon confirms UFO video is real, taken by Navy pilot
Kristina Barboza
Now playing
03:09
Grieving mom's advice to other families: You can try to help, support and love
Fancy Feast/Purina
Now playing
01:06
Cat food company makes a cookbook ... for humans
Now playing
02:35
WWII veteran: End of the war was 'the biggest thrill of my life'
Google Earth's new timelapse feature
Google
Google Earth's new timelapse feature
Now playing
01:09
Google Earth's new Timelapse feature shows 40 years of climate change in just seconds
FOX/"The Masked Singer"
Now playing
01:23
'The Masked Singer' reveals identity of The Orca
LONDON, ENGLAND - DECEMBER 07:  A visual representation of the digital Cryptocurrency, Bitcoin on December 07, 2017 in London, England. Cryptocurrencies including Bitcoin, Ethereum, and Lightcoin have seen unprecedented growth in 2017, despite remaining extremely volatile. While digital currencies across the board have divided opinion between financial institutions, and now have a market cap of around 175 Billion USD, the crypto sector coninues to grow, as it continues to see wider mainstreem adoption. The price of one Bitcoin passed 15,000 USD across many exchanges today taking it higher than previous all time highs.  (Photo by Dan Kitwood/Getty Images)
Dan Kitwood/Getty Images
LONDON, ENGLAND - DECEMBER 07: A visual representation of the digital Cryptocurrency, Bitcoin on December 07, 2017 in London, England. Cryptocurrencies including Bitcoin, Ethereum, and Lightcoin have seen unprecedented growth in 2017, despite remaining extremely volatile. While digital currencies across the board have divided opinion between financial institutions, and now have a market cap of around 175 Billion USD, the crypto sector coninues to grow, as it continues to see wider mainstreem adoption. The price of one Bitcoin passed 15,000 USD across many exchanges today taking it higher than previous all time highs. (Photo by Dan Kitwood/Getty Images)
Now playing
03:07
Bitcoin has an energy problem
The new all-electric Mercedes-EQS
Mercedes-Benz AG
The new all-electric Mercedes-EQS
Now playing
01:05
See the new all-electric EQS luxury sedan from Mercedes
Now playing
01:32
Scientists turned spiderwebs into music and it sounds like a nightmare
Jeopardy Productions, Inc.
Now playing
01:02
Aaron Rodgers' Green Bay Packers question stumps 'Jeopardy!' contestants
Now playing
05:18
Coinbase CFO: We're an on-ramp to the crypto economy
CNN
Now playing
02:12
'Too dangerous to do anymore': Sacha Baron Cohen on Borat
John Avlon 0413 Wallace
CNN
John Avlon 0413 Wallace
Now playing
03:31
Avlon compares Tucker Carlson's comments to George Wallace
(CNN) —  

Sen. Elizabeth Warren is promoting an online calculator that shows voters just how much – exactly – they’d benefit from her proposal to cancel outstanding student loans.

Speaking Friday at Iowa State University, the Massachusetts Democrat and 2020 presidential hopeful asked people to take out their phones and plug their debt amounts into the calculator, which is available on her campaign’s website.

“Anybody in here have student loan debt? Anybody in here know someone with student loan debt? Okay, I think we got almost everybody,” the Massachusetts Democrat said.

The calculator, she added, is “a way to make real to people what it means to talk about student loan debt cancellation.”

Warren released her loan forgiveness plan last week, which she says would be paid for by her proposed wealth tax. Her campaign estimates that the one-time debt cancellation would cost $640 billion.

Warren’s plan would cancel up to $50,000 in student debt for anyone from households earning less than $100,000 a year. For those Americans, the calculation is simple.

But the amount of relief gets gradually smaller as income level goes up. Households that make more than $250,000 would not be eligible for any debt relief.

Warren is also proposing to make tuition free at public two- and four-year college for all students, regardless of their family’s income. She wants to increase federal funding for Pell grants, which are awarded to low-income families, as well as invest more money in historically black colleges and universities. The senator also is calling for a ban on for-profit colleges receiving any federal funding.

There is broad support among the Democratic presidential candidates for making college more affordable, though they differ on how to achieve that goal.

Sens. Cory Booker of New Jersey, Kamala Harris of California, and Kirsten Gillibrand of New York – along with Warren – are all co-sponsors of Hawaii Sen. Brian Schatz’s Debt-Free College Act. It would establish a matching grant to states that commit to helping students pay for the full cost of attendance without taking out loans.

Vermont Sen. Bernie Sanders, who helped bring the idea mainstream during his 2016 presidential bid, has introduced his own bill which would make tuition and fees free at public colleges for students whose families earn less than $125,000.

But other candidates – including Sen. Amy Klobuchar and South Bend, Indiana, Mayor Pete Buttigieg – have stopped short of embracing a free-college platform.

CNN’s Daniella Diaz contributed to this report.