Students want president to forgive their loans
WASHINGTON – With U.S. federal student loan payments about to resume, 62% of students say they are likely to boycott repayments.
According to a survey conducted by intelligent.com, nearly half of the 1,000 borrowers surveyed believe a boycott could result in all of their student debt being forgiven.
Loan payments are expected to resume in October after being paused for nearly 2 years due to the pandemic.
The vast majority of borrowers are aware of the potentially serious consequences of not repaying their loans.
More than 7 in 10 borrowers said they would need to take on additional work to prepare to resume repayments.
The survey found that borrowers are motivated to boycott repayment by several factors, including the high cost of student debt and the hope that a boycott will lead to student loan forgiveness.
Last August, President Joe Biden announced plans to forgive $10,000 to $20,000 in federal student loan debt for each borrower.
But right-leaning Democrats in the Senate joined Republicans in trying to block Biden’s plan.
The president, however, vetoed the measure. But in June, the right-leaning majority of the U.S. Supreme Court overturned the president’s plan.
According to the Education Data Initiative, there are 43.6 million federal students who owe a total of nearly $1.8 trillion.
The average federal student loan debt is $37,717, with students at public universities an average of nearly $26,000 toward their bachelor’s degree.
Have Your Say!
Have you been affected by the issues raised in this story? Please share your experiences by emailing haveyoursay@soundvision.com.
Please include a contact number if you are willing to speak to a Muslim Network TV’s representative. You can also get in touch in the following ways:
Tweet: @MuslimNetworkTV
We must take charge of our narrative. Research indicates that 92% of their Muslim coverage is negative. Help us change that.
