Survey: 73% of Americans Support Biden’s Plan to Forgive $10,000 in Student Loan Debt

Survey: 73% of Americans Support Biden’s Plan to Forgive $10,000 in Student Loan Debt

Student loan forgiveness has become a hot-button political issue over the last few months. President-Elect Biden has proposed canceling $10,000 in student loan debt, while others want more. The College Investor surveyed 2,000 Americans, including those who don’t have loans, to see how much they support canceling student loan debt.

San Diego, CA, December 17, 2020 –(PR.com)– Roughly 3 in 4 Americans are in support of up to $10,000 in student loan forgiveness, according to the latest College Investor survey.

The College Investor surveyed 2,000 Americans to find out whether they supported President-Elect Biden’s plans for student loan forgiveness, as well as other loan forgiveness proposals. They analyzed three groups: those with student loans, those who’ve paid off their student loans, and those who never had student loans.

The full survey findings may be viewed here: https://thecollegeinvestor.com/35236/biden-student-loan-forgiveness-survey/

Here’s what was found:

– 73% of Americans were in support of forgiving up to $10,000 in student loan debt. Even 53% of individuals who never had student loans were in support.

– 63% of Americans were in support of forgiving up to $50,000 in student loans. A slim majority of 51% of those without student loans were in support.

– 60% of Americans were in support of total loan forgiveness. However, only 44% of those who never had student loans were in support.

The College Investor also wanted to see how Americans felt about the equity with this type of program:

– 52% of respondents believed there should be an equal tax break or program to cover those who don’t have loans to forgive.

– Only 37% felt there should be an income-limit on individuals who get their loans forgiven.

Robert Farrington, founder of The College Investor, says, “It was interesting to see such wide-ranging support for student loan forgiveness, especially from those who’ve never had loans or paid them off already. It’s also clear that there is more support for smaller loan forgiveness versus blanket total loan elimination.”

The College Investor posts fresh content related to the areas of personal finance, investing, student loan debt and more, on a regular basis. The College Investor also hosts a daily podcast on money topics, which can be found here.

Published at Thu, 17 Dec 2020 19:20:26 +0000