New Poll: Americans Don't Want to Forgive Student Debt
As we reported on this blog on October 25, American college graduates now owe more than $1 trillion in unpaid student loans. And if you talk to any of those students, they will tell you that it is pretty hard to pay back $10,000 or $25,000 when you can’t find a job or are serving up Big Macs.
But we Americans are generous people, aren’t we? That means we ought to do all we can to help college graduates get a leg up and succeed, right?
Apparently that is not the way we are thinking. In fact, a new poll conducted by Rasmussen Reports reveals that the majority of Americans oppose the idea of forgiving student debt. To quote from the survey results . . .
“The latest Rasmussen Reports national telephone survey finds that just 21% of American Adults think the federal government should forgive the nearly $1 trillion in loans it made or guaranteed to help students pay for a college education. Sixty-six percent (66%) oppose the forgiveness of all student loans. Thirteen percent (13%) are undecided.”
This is puzzling. After all, we Americans are currently engaged in a national initiative to increase the number of Americans who have college degrees so they can contribute to our economic recovery. How are they supposed to contribute to our recovery when they are drowning in debt?
When we have spoken with students who owe money on loans, many of them have told us that they are not really looking for a bailout, but just for a little help in the form of lower monthly payments, lower interest rates, or maybe even the chance to convert their debt to zero-interest loans.