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Survey: Many Recent Student Loan Borrowers Are Counting on Biden to Bail Them Out

Survey: Many Recent Student Loan Borrowers Are Counting on Biden to Bail Them Out

“say Biden’s campaign pledge to address student debt played a role in their decision to take out loans”

These are people who took on student loan debt after Biden became president, believing that he would cancel the debt. Not very smart.

The College Fix reports:

Nearly 9 in 10 recent student loan borrowers bet on Biden bailing them out

A new survey of recent student loan borrowers found that 86 percent took on debt with the assumption that President Joe Biden would bail them out on their loans.

Intelligent.com surveyed 1,000 borrowers who “had taken out student loans between November 2020 and the present,” according to the survey results released on Monday.

The company reported:

86% of recent student loan borrowers, defined here as those who have taken out a loan since Biden was elected in November 2020, say Biden’s campaign pledge to address student debt played a role in their decision to take out loans. Additionally, 21% of borrowers say they would have been unlikely (16%) or very unlikely (5%) to take on the same amount of debt had Biden not campaigned on student loan forgiveness.

Some students likely cannot afford to go to college without their loans being bailed out, according to the survey results.

The survey reported:

When asked if they would have continued their education in the first place if not for Biden’s campaign promises, 25% of recent borrowers say they would have been unlikely (18%) or very unlikely (8%) to go to or continue going to college.

Additionally, 30% of recent borrowers who are also currently enrolled in school say they are unlikely (21%) or very unlikely (9%) to continue going to college if Biden does not forgive some amount of student loan debt.

A recent Federal Reserve report found that a bailout would primarily benefit millennials and Gen Z. The two generations of voters went 60 percent for Biden over President Donald Trump in 2020.

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Comments

Morning Sunshine | June 30, 2022 at 10:53 am

wow, I am shocked. SHOCKED! Who could have seen this coming?

henrybowman | June 30, 2022 at 1:07 pm

“Many Recent Student Loan Borrowers Are Counting on Biden to Bail Them Out”

Hordes of migrant students, crossing continental distances, xifriends and security stuffies in tow, and fully expecting to be allowed across the line when they arrive, en masse, at the threshold of Fort Knox. Vice President Kamala Harris, put in charge of and assigned to handle this situation by Joe Biden, immediately jetted to Knoxville to prepare to welcome the arriving migrants.

With a $10,000 bailout, It won’t do much for student loans.

healthguyfsu | June 30, 2022 at 2:14 pm

90% of them are not that stupid, they’re just grifters and saying that they were counting on it puts more pressure on the left to make it happen for votes.

The Gentle Grizzly | June 30, 2022 at 7:05 pm

Most had parents that never said, “no”.

So as college is apparently over rated and useless, will future loans be stopped?

Schools should underwrite those loans, not taxpayers.

The institutions they attend should be co-signers to the loan.