Democratic candidates are promising student loan debt forgiveness, but do voters care? – USA Today
Most of the Democratic presidential candidates have prioritized tackling the nation’s staggering student debt crisis and many have called for some form of debt forgiveness. But while campaigns have made college financing a major issue, and are likely to continue doing so in the final push before the Iowa Democratic caucus on Feb. 3, some voters say it’s just one of many factors that will impact who they cast their vote for.
Roughly 54% of Americans say the nation’s student loan debt crisis is a major problem, according to a POLITICO/Morning Consult poll published in April. And roughly 67% of respondents said they had delayed or put off a major purchase because of student loans, while 40% said they’ve delayed a major life decision, such as starting a family.
In the U.S., student debt, the fastest-growing debt in the country, totals more than $1.5 trillion and has already surpassed credit card debt. In 2018, 65% of college seniors who graduated from public and private nonprofit colleges had student loan debt, according to The Institute for College Access & Success. Millennials, in particular, are hampered by higher education, as borrowers ages 25 to 34 owe almost $500 million, putting them behind in buying homes, saving for retirement and starting families.