Recent findings from a new nationwide survey from the University of Chicago Harris School of Public Policy and The Associated Press-NORC Center for Public Affairs Research reveal a complex landscape of student loan forgiveness views. These opinions are significantly influenced by partisanship and personal experiences with student debt. President Biden’s handling of the issue has received less than approval, with only 30% of the public expressing satisfaction. However, there is notable support for the Biden-Harris administration’s proposed debt relief measures, mainly when the relief targets specific circumstances.
Approval of President Biden’s Handling of Student Loan Debt
Approval ratings for Biden’s approach to student loan forgiveness vary widely across different demographics. These findings underscore how personal debt experience and partisanship are critical in shaping public opinion on student loan relief:
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U.S. Adults: Opinions are fairly mixed, with a significant portion disapproving (40%) and (30%) approving.
- Fewer adults say it is more important for the federal government to forgive student loan debt (39%) than medical debt (51%).
- Student Loan Holders: More balanced but still divided, with a slightly higher approval (36%) than disapproval (34%).
- Non-Student Loan Holders: Tend to disapprove more (42%) than approve (28%).
- Democrats: Show strong approval (55%) with minimal disapproval (18%).
- Independents: High uncertainty, with (33%) not knowing, (28%) disapproving, and (18%) approving.
- Republicans: Predominantly disapprove (71%), with only (9%) approving.
Findings on Public Support
The survey indicates that student loan forgiveness views are favorable when forgiveness is tied to specific conditions. 65% of Americans favor student debt forgiveness under at least one of the following conditions:
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- 54%: The borrower was defrauded or misled by the school.
- 49%: The borrower has made on-time payments for 20 years.
- 44%: The borrower owes more than they originally borrowed due to interest.
- 41%: The borrower attended a school that left them with disproportionate debt relative to their income.
- 41%: The borrower is facing financial hardship that prevents repayment.
The Role of Personal Debt Experience
Personal debt experience also significantly shapes student loan forgiveness views:
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- 54% of those currently repaying student loans consider federal student debt relief important.
- 31% of those who have paid off their loans share this sentiment.
- 34% of those with no student debt history find it important.
Partisan Divides
Student loan forgiveness views are sharply divided along partisan lines:
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- 58% of Democrats view student loan forgiveness as important.
- 44% of Independents find it important.
- 15% of Republicans consider it important.
Democrats generally show more robust support for various forms of debt relief proposed by the Biden-Harris administration:
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- Interest Accumulation: 62% of Democrats favor forgiving debt that has increased due to interest, compared to 37% of independents and 27% of Republicans.
- Long-term Repayment: 65% of Democrats support debt relief for those who have been repaying for over 20 years, versus 44% of independents and 34% of Republicans.
- Debt-to-Income Disparity: 59% of Democrats approve of relief for borrowers with high debt relative to their income, compared to 38% of independents and 22% of Republicans.
Educational Influence
Education also influences opinions within political groups. Among Democrats, college graduates are more likely than non-graduates to support loan forgiveness under various conditions, such as financial hardship or disproportionate debt-to-income ratios. Conversely, college-educated Republicans are likelier than their non-graduate counterparts to oppose student loan forgiveness under similar conditions.
Education further influences student loan forgiveness views within political groups:
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- Democrats:
- Support among college graduates:
- 68% if the borrower is experiencing financial hardship.
- 66% if the borrower has a large debt-to-income ratio.
- 74% if accrued more interest than the original loan amount.
- Support among college graduates:
- Republicans:
- Opposition among college graduates:
- 66% if the borrower is experiencing financial hardship.
- 64% if the borrower has a large debt-to-income ratio.
- 55% if accrued more interest than the original loan amount.
- Opposition among college graduates:
- Democrats:
The University of Chicago Harris School of Public Policy and AP-NORC Center survey reveals the intricate dynamics of public opinion on student loan forgiveness, shaped by personal debt experiences and partisanship. While dissatisfaction with President Biden’s approach prevails, there is considerable support for targeted debt relief measures. Borrowers with ongoing repayments notably support federal relief more than those who have paid off their loans or have never had any debt. Support is strongest for relief tied to specific conditions, such as fraud, long-term repayment, or financial hardship. Partisan divides are pronounced, with Democrats favoring broader relief and Republicans showing strong resistance. Education levels further influence these views within political groups, highlighting the need for nuanced policy solutions.
For more detailed findings, view the full report here.
Source:
AP-NORC Center for Public Affairs Research. (June 2024). UChicago Harris/AP-NORC May 2024 Topline Report [Press release] (PDF).
AP-NORC Center for Public Affairs Research. (June 2024). Views toward student loan relief are tied to partisanship and experience with debt.
Harris School of Public Policy. (June 2024). May 2024 Report. Views toward student loan relief are tied to partisanship and experience with debt [Final report] (PDF).