Less than half of Americans support student loan forgiveness: poll
Yahoo is now a part of Verizon Media
Less than half of Americans support any level of student loan forgiveness, according to a new survey from Yahoo Finance and The Harris Poll. The new findings come as Democratic lawmakers urge President Biden to use executive action to forgive up to $50,000 per person in student debt.
Forty-six percent of the 1,059 people polled Feb. 19-22 said they supported student loan forgiveness, while 54% of respondents opposed it. The new survey found 81% of people with student debt owe more than $10,000.
High-income households and college graduates—which are more likely to have higher amounts of student debt— were more likely to support forgiveness. Fifty percent of households making more than $100,000 per year support forgiveness, compared to 45% of households making less than $50,000. Fifty-three percent of college graduates support forgiveness, versus 35% of people with a high school education or less.
"It's basically an off-the-rack policy to give money to upper-middle class, highly educated people and not others," said Jason Delisle with the American Enterprise Institute. "I don't think it's a good policy because I don't think that's a group of people that we should be providing aid to, necessarily, at the expense of others."
Fifty-eight percent of Black respondents and 54% of Hispanic respondents support some forgiveness, compared to 42% of white respondents. Lawmakers and advocates have stressed that student debt has a disproportionate impact on Black and brown borrowers.
A January survey by The Harris Poll found the overwhelming majority of Americans supported student debt reform, including cancellation. The earlier poll asked for respondents' thoughts on forgiveness of a flat amount of student debt (64% supported), forgiveness of all student debt (55% supported) and forgiveness for certain industries (63% supported). The latest poll simply asked respondents if they supported some form of forgiveness.
The Harris Poll notes the "recent news cycle and social media conversation" around student debt forgiveness may have had an impact on public opinion.
A Morning Consult poll taken in January found 56% of adults supported the $10,000 student loan forgiveness plan Biden proposed in the campaign, while 46% of people in that survey said they preferred the more progressive plan to cancel $50,000 in student loan debt per borrower.
Yahoo is now a part of Verizon Media
Less than half of Americans support any level of student loan forgiveness, according to a new survey from Yahoo Finance and The Harris Poll. The new findings come as Democratic lawmakers urge President Biden to use executive action to forgive up to $50,000 per person in student debt.
Forty-six percent of the 1,059 people polled Feb. 19-22 said they supported student loan forgiveness, while 54% of respondents opposed it. The new survey found 81% of people with student debt owe more than $10,000.
High-income households and college graduates—which are more likely to have higher amounts of student debt— were more likely to support forgiveness. Fifty percent of households making more than $100,000 per year support forgiveness, compared to 45% of households making less than $50,000. Fifty-three percent of college graduates support forgiveness, versus 35% of people with a high school education or less.
"It's basically an off-the-rack policy to give money to upper-middle class, highly educated people and not others," said Jason Delisle with the American Enterprise Institute. "I don't think it's a good policy because I don't think that's a group of people that we should be providing aid to, necessarily, at the expense of others."
Fifty-eight percent of Black respondents and 54% of Hispanic respondents support some forgiveness, compared to 42% of white respondents. Lawmakers and advocates have stressed that student debt has a disproportionate impact on Black and brown borrowers.
A January survey by The Harris Poll found the overwhelming majority of Americans supported student debt reform, including cancellation. The earlier poll asked for respondents' thoughts on forgiveness of a flat amount of student debt (64% supported), forgiveness of all student debt (55% supported) and forgiveness for certain industries (63% supported). The latest poll simply asked respondents if they supported some form of forgiveness.
The Harris Poll notes the "recent news cycle and social media conversation" around student debt forgiveness may have had an impact on public opinion.
A Morning Consult poll taken in January found 56% of adults supported the $10,000 student loan forgiveness plan Biden proposed in the campaign, while 46% of people in that survey said they preferred the more progressive plan to cancel $50,000 in student loan debt per borrower.
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