Surveys indicate that only 41% of adults in the United States support the cancellation of all student loan debts, according to a survey conducted by The Balance regarding President Joe Biden’s Better Building Plan (BBB). Survey participants expressed support for other policies within the BBB plan, such as making prescription drugs more affordable, taxing the wealthy, making childcare affordable, and addressing climate change, with each of these initiatives receiving support exceeding 50%. However, student loan cancellation was one of the very few political ideas surveyed that did not receive support exceeding 50%.
Key Points
Among participants in the survey conducted by The Balance, only 41% of adults in the United States support the cancellation of all student loans. Nearly two-thirds of participants support increasing federal grants for students who need help paying for college. Education policies aimed at minorities were among the most contentious points among conservative and liberal participants in the survey.
Support for Increasing Federal College Grants and Investing in Historically Black Colleges and Universities
There were some beneficial policy proposals for students planning to attend college that received higher levels of support from survey participants – although the numbers were lower than other initiatives like reducing prescription drug costs. Nearly two-thirds of survey participants support increasing federal grants for students in need of assistance with college costs. The president’s BBB plan aims to increase the maximum federal grant award by $550 for more than 5 million students enrolled in public, private, and nonprofit colleges. Federal grants help students pay for higher education costs each year, and unlike student loans, they do not have to be repaid.
Political Division Regarding Higher Education Policies
In The Balance survey, which included more than 1,800 adults in the United States, over a third (36%) of participants described their political affiliation as conservative or very conservative, while about a quarter (23%) identified themselves as liberal or very liberal. The remainder consider themselves independent, with conservative independents leaning more than liberals. Education policies aimed at minorities, such as those assisting DREAMers and students of African American, Native American, and other origins, revealed a clear political divide, with a gap of up to 25 points in preferences between conservative and liberal participants. For example, two out of three liberals supported expanding federal college grants for DREAMers, while only 34% of conservatives said they support this initiative. Investment in historically Black colleges and universities, tribal colleges, and institutions serving minorities received support from nearly 70% of liberals, while less than half (42%) of conservatives agreed with the proposal. Survey results indicated that minority-focused education proposals within the BBB plan were the least favored among white Americans.
Younger Generations Want Student Loan Cancellation
Surveys have shown that younger generations such as Millennials (ages 26 to 41) and members of Generation Z (ages 18 to 25) are the most supportive of student loan cancellation, with more than half of Millennials and Generation Z members believing that the federal government should cancel all student loans. Older generations such as Baby Boomers (ages 58 to 76) showed the least support, with only 20% of Baby Boomers supporting student loan cancellation.
Overall,
Overall, the survey results showed that millennials were significantly more likely to support education policies related to the BBB plan than any other generation, with a majority of millennials supporting the expansion of federal Pell Grants, funding for historically black colleges and universities (HBCUs) and tribal colleges and universities, and institutions serving minorities, as well as increasing federal grants for students who need help paying for college. However, education still ranked third in terms of the most important issues for every generation except boomers. Boomers showed the least enthusiasm for pro-student policy proposals for college-bound students, particularly the expansion of federal Pell Grants, with only 27% of boomers supporting this initiative.
Survey Methodology
The Balance conducted a survey of 1,800 adults in the United States (aged 18+) from February 8 to February 13, 2022. The survey was conducted online through a self-administered questionnaire to a panel of participants from a market research provider. Participants were required to be eligible to vote to qualify. Quotas were used to ensure national representation of generations, gender, race/origin, and region using estimates from the 2019 American Community Survey.
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Sources:
The Balance uses only high-quality sources, including peer-reviewed studies, to support the facts mentioned in our articles. Read our editorial process to learn more about how we verify facts and maintain the accuracy, reliability, and quality of our content.
National Conference of State Legislatures. “Undocumented Student Fees: An Overview.”
Board of Governors of the Federal Reserve System. “Report on the Economic Well-Being of U.S. Households in 2020.”
Source: https://www.thebalancemoney.com/most-us-adults-dont-support-student-loan-cancellation-5224417
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