Americans are nearly evenly split on President Biden’s plan to cancel up to $20,000 in federal student loan debt for certain borrowers, a new poll finds.
But the vast majority believes the administration should work to lower the costs of higher education.
Some 43% oppose Biden forgiving between $10,000 and $20,000 worth of federal loan debt per borrower, while 48% support it, a Politico/Morning Consult poll found.
Democrats back the debt bailout initiative much more than Republicans — 72% to 26% — a percentage that’s nearly as high as the 73% of people who owe loan debt.
Only 19% of Democrats oppose the plan, compared to 67% of Republicans and 47% of independents.
Republicans have blasted the bailout plan for relieving the debt of the country’s wealthiest graduates and putting the burden on the backs of blue-collar American taxpayers.
The poll also found that a substantial majority (77%) say the Biden administration should focus on bringing down the cost of higher education — a sentiment expressed by 86% of Democrats, 75% of independents and 68% of Republicans.
Fifty-six percent of Americans also give a thumbs-up to another component of the plan that extends the pause on loan payments until Dec. 31.
It’s supported by 77% of Democrats, 51% of independents and 37% of Republicans, as well as 82% of those who still are making payments.
President Biden and Secretary of Education Miguel Cardona speaking on student loan debt forgiveness. APThe president announced the plan last week to cancel $10,000 in federal student loan debt for borrowers who earn less than $125,000 a year or $250,000 for married couples.
Borrowers who have Pell Grants are eligible to have another $10,000 in debt forgiven.
The poll surveyed 2,007 registered voters between Aug. 26 and 28.
It has a plus/minus 2 percentage-point margin of error.
