Nearly 9 in 10 young Americans support government action to combat student debt

WASHINGTON, DC – APRIL 04: Supporters of The Debt Collective gather near the US Department of Education to demand complete cancellation of student debt on April 04, 2022 in Washington, DC. (Photo by Leigh Vogel/Getty Images for MoveOn & Debt Collective)

Leigh Bird | Getty Images Entertainment | Getty Images

Nearly 9 in 10 young Americans support government action on student debt.

That’s according to a survey by the Harvard Kennedy School’s Institute of Politics. Between March 15 and March 30, more than 2,000 adults under the age of 30 were surveyed.

Outstanding student loan debt in the US tops $1.7 trillion, weighing on households more than credit card or auto debt. More than 40 million Americans are in debt for their education, and up to a quarter are insolvent or insolvent.

The Biden administration is under pressure to forgive student debt, and President Joe Biden, as a campaign candidate, promised to cut $10,000 for everyone. The White House says it is still evaluating its options and has continued to suspend payments in the meantime.

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The highest proportion of young adults surveyed by Harvard – 38% – support full cancellation of student debt. Around a quarter preferred government assistance with repayment options, and another quarter believe the best course of action would be debt relief for those who need it most.

Only 13% of respondents believe that the system does not need to be changed.

The Biden administration last week announced a series of improvements related to federal student loan repayment schedules.

Meanwhile, support for full student debt forgiveness has increased by more than 5 percentage points since 2020.

https://www.cnbc.com/2022/04/25/nearly-9-in-10-young-americans-support-government-action-on-student-debt.html Nearly 9 in 10 young Americans support government action to combat student debt

Gary B. Graves

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