The NPR Politics Podcast 8 in 10 Young People Want Government Action On Student Loan Debt
Apr 25, 2022
Young Americans are anxious about student loan debt and demand government action. A poll reveals 38% of those under 30 want complete debt cancellation. President Biden's promises face skepticism as his continuation of loan repayment pauses stirs political tensions. The discussion dives into the public's mixed sentiments on forgiveness and the economic stakes involved. Additionally, the Department of Education grapples with reforming mismanaged student loan programs, highlighting the urgency for accountability and systemic improvements.
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Student Loan Debt and Biden's Approval
- President Biden's approval among young people has dropped significantly, possibly due to inaction on student loan debt.
- A key issue is student loan debt, with a large majority favoring government action.
Impact of $10,000 Forgiveness
- Biden's proposed $10,000 student loan forgiveness would disproportionately benefit those under 40.
- This forgiveness would eliminate the entire debt for about 12 million borrowers, roughly one-third of all borrowers.
Political Stalemate on Forgiveness
- Student loan forgiveness is politically contentious, with Congress and the White House deferring responsibility.
- Although popular, Congressional leaders are hesitant to pass legislation for it, preferring executive action.