Nearly 9 out of 10 young Americans support the government’s efforts against student debt

WASHINGTON, DC – APRIL 4: Proponents of The Debt Collective meet near the U.S. Department of Education to demand full cancellation of student debt on April 4, 2022 in Washington, DC. (Photo by Leigh Vogel / Getty Images for MoveOn & Debt Collective)

Leigh Vogel | Getty Images Entertainment | Getty Images

Nearly 9 out of 10 young Americans support the government intervening in student debt.

It shows a study conducted by the Institute of Politics at Harvard Kennedy School. More than 2,000 adults under the age of 30 were interviewed between March 15 and March 30.

Outstanding student loan debt in the United States exceeds $ 1.7 trillion, burdening households more than credit card or car debt. More than 40 million Americans are in debt for their education, and up to a quarter are in crime or default.

The Biden administration is under pressure to forgive student loans, and as a candidate on the campaign trail, President Joe Biden had promised to cancel $ 10,000 for everyone. The White House says it is still looking at its options, and in the meantime, it has continued to pause payments.

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The highest proportion of young adults interviewed by Harvard – 38% – are in favor of full cancellation of student debt. About a quarter preferred government assistance with repayment options, and another quarter believe the best course of action would be debt relief for those most in need.

Only 13% of respondents believe that the system does not require any change.

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

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

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