New poll shows young voters want President Joe Biden to cancel student loans for everyone.
Here’s what you need to know.
According to a new follow-up survey released Wednesday, a large bipartisan majority of young likely voters support student loan forgiveness for all student borrowers. The Student Borrower Protection Center, a nonprofit advocacy organization, and Data for Progress, a progressive think tank and polling firm, surveyed voters between the ages of 18 and 34. Here is the data:
- 71% of respondents support large-scale student loan forgiveness;
- 18% oppose large-scale student loan forgiveness;
- 81% of student loans support blanket student loan forgiveness;
- 66% without student loans support broad student loan relief;
- 56% of Republicans, 66% of Independents and 84% of Democrats support partial or full student loan forgiveness for all student borrowers.
“Young voters put Joe Biden in the White House on the promise of broad relief from the crushing burden of student debt,” said Mike Pierce, executive director of the Student Borrower Protection Center. “Like As the country recovers from a devastating pandemic and economic crisis, young voters from all political backgrounds have clear expectations of the Biden-Harris administration: building back better means canceling student debt for all borrowers.
Student Loan Cancellation: Closer Than Ever
Currently, Biden is considering canceling student loans for millions of student borrowers. Progressives in Congress have pressured Biden to forgive up to $50,000 in student loans. They argued that if Biden fails to cancel student loans through executive action, likely Democratic voters may be less likely to vote in November’s midterm elections. As a result, progressives warned Biden that Democrats could lose control of Congress. Biden has supported large-scale student loan forgiveness of up to $10,000 since his 2020 presidential campaign. As a candidate, Biden has campaigned on student loan forgiveness for all borrowers as well as the student loan relief for many student borrowers who attended community colleges, historically black colleges and universities (HBCUs), and minority-serving institutions (MSIs). A coalition of more than 415 civil, social and professional organizations has urged Biden to act on large-scale student loan relief. In particular, proponents of student loan forgiveness want Biden to implement student loan forgiveness before the temporary student loan relief from the Covid-19 pandemic expires on August 31, 2022. (L cancellation of student loans could mean the end of student loan relief).
Biden could announce student loan cancellation within weeks
Biden is potentially weeks away from announcing one of the most important initiatives of his presidency. While there’s no guarantee that Biden will forgive student loans, Biden could weigh several factors to make a final decision. For example, Biden could weigh public sentiment, student loan forgiveness to date, the state of the economy, student loan disparities and other factors. While this data represents only a poll and a segment of the population, it could send a message to the president about what at least some young people think about student loan forgiveness. As the end of temporary student aid from the Covid-19 pandemic approaches, make sure you understand your best options for student loan repayment. That said, there is no guarantee that all or part of your student loans will be forgiven. Here are some smart ways to save money and free yourself from debt: