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SURVEY: 62% of voters support some student loan debt forgiveness

Approximately 62% of voters support student loan forgiveness, according to a poll of nearly 2,000 registered voters conducted in December by Morning Consult.

Those surveyed, however, had different ideas about how much debt should be forgiven, and for whom. Nearly 20% of voters said all student loan debt should be forgiven, while 15% said balances should be wiped clean only for lower-income Americans.

Another 16% said all Americans should have some of their education debt wiped away, while 12% said the same for those with the lowest incomes. Nearly 30% said that student loan debt shouldn’t be forgiven at all, and 10% had no opinion.

On Wednesday, the Biden administration announced that it would extend the pause on repayment of federal student loans and interest until May 1.

A recent study also showed that nearly 90% of borrowers are not financially secure enough to resume payments.

Lawmakers have also argued that resuming payments now could hinder the economic recovery, something that’s become of greater concern with the new omicron variant of Covid-19.

Forgiveness may also still be possible. While campaigning, President Biden supported canceling $10,000 in debt for all borrowers, and some Democrats have pushed him to forgive up to $50,000. The average student loan debt is about $40,000 per borrower, according to the Education Data Initiative.

Biden has asked the U.S. Department of Justice and the Education Department to review his legal authority to cancel student loan debt by executive action, meaning without Congress. The president is unlikely to take any action before those reports are completed and make public.

ARTICLE: PAUL MURDOCH 

MANAGING EDITOR: CARSON CHOATE

PHOTO CREDITS: MORNING CONSULT

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Paul, 37, is from Scotland in the UK, but currently lives and works in Bangkok. Paul has worked in different industries such as telemarketing, retail, hospitality, farming, insurance, and teaching, where he works now. He teaches at an all-girls High School in Bangkok. “It’s a lot of work, but I love my job.” Paul has an active interest in politics. His reason for writing for FBA is to offer people the facts and allow them to make up their own minds. Whilst he believes opinion columns have their place, it is also important that people can have accurate news with no bias.

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