COLLEGE 2030 Pulse Check: Students Weigh in on Biden Administration’s Loan Forgiveness Plan
What Students Told Us
The survey found that over half (57%) of college students indicated they have student loans, while 43% said they did not.
When asked if they qualified for loan forgiveness, about two-thirds of students (65%) who have student loans indicated they qualify for the student loan forgiveness plan. However, nearly one-fourth (24%) were unsure.
And when asked if the Administration’s loan forgiveness plan is unfair to those who have already paid their debt, students were divided, with 38% of students agreeing it was unfair and 42% disagreeing.
What you’ll learn in this report
Process for Applying
61% of students who have loans said they don’t know the process to apply for student loan forgiveness, 22% were unsure and only 16% indicated they knew the process to apply.
60% of students agreed that instead of a one-time loan cancellation, the Administration should cancel interest rates on student loans for all borrowers — while 58% believe the Administration should cancel all current student loan debt.
Trust it Will Happen
73% of students said they were either unsure or did not trust the government to follow through and cancel student loans for qualified borrowers.
Read the latest COLLEGE 2030™ – Emerging from the Pandemic: Reimagining Higher Education research report, which addresses mental health, career preparedness and how to foster an environment of diversity, equity and inclusion.