People are concerned about the impact of student debt, polls show, and they are thirsty for proposals to address it.
Since Sen. Elizabeth Warren, a Massachusetts Democrat, announced her plan last month to wipe away the student loans of millions of Americans as part of her presidential campaign, there’s been debate in the policy community about whether it’s a good idea.Nearly two-thirds of registered voters polled by news site, The Hill, and market research company, Harris-X, said they would support a plan to make public colleges tuition-free and cancel most existing student loans.
The results come amid debate over Warren’s plan. That discussion has included both criticism from experts concerned that wiping away some borrowers’ student debt may not be the best way to address our nation’s $1.5 trillion student-loan problem and complaints online and in the media that the plan would be unfair to borrowers who already paid off their loans.
Their main concern is that the plan would provide a bigger benefit — as measured in dollars — to borrowers earning roughly between $68,000 and $111,000. That’s because these borrowers are more likely to have higher student-debt loads than borrowers who are earning less. Supporters of Warren’s plan say this debt-financed system is changing the way graduates live their lives, which could put the economy at risk.
Nonetheless, the data suggests that even those who aren’t personally burdened by student loans are concerned about it. More than half of the respondents to the Politico poll said student debt is a “major problem” for the country and about 30% of respondents said the issue is a “critical threat” to the economy. The Business Insider poll found that 57% of Americans who already paid off their loans support Warren’s plan.
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