Per USA Today College, Senator Bernie Sanders of Vermont has officially introduced a new bill, titled the "College for All Act," to eliminate undergraduate tuition at all four-year public colleges and universities. Per the proposed bill, the Federal government and each state government would share the costs of tuition. The hope is that "colleges would then have the opportunity to increase funding for students, hire new faculty, and provide professional development opportunities for students."
Said Alexandra Flores-Quilty, vice president of the United States Students Association (USSA), “education is the foundation of any country, and if we want to see this country thrive, then everyone must be able to have access to an education — regardless of their identity and regardless of how much money they or their family have.” The bill would also decrease interest rates on existing student loans, from 4.32 to 2.32%.
Per the article, The College for All Act will enable the government to cover these costs via taxes and fees on Wall Street. Flores-Quilty goes on to say that, "students and families need tuition-free college, and we need Senator Sanders' legislation to ensure that education is a right, not a privilege."
A summary of the bill can be found here.