Whatever political mileage President Joe Biden and Democrats thought they would get out of a stunt to forgive at least some student loans has backfired in a major way, according to a new survey.
“Under Biden’s plan, unveiled in late August, he will cancel up to $20,000 in student debt for those who had have Pell Grants and up to $10,000 in debt for those earn less than $125,000 per year, $250,000 for married couples,” notes an assessment from the latest I&I/TIPP Poll.
The survey found that “by a margin of 59% to 32%, Americans agreed that Biden’s student-loan forgiveness plan ‘is unfair to those whose children are not in college or who have already paid for their kid’s education to have to pay for other people’s education.'”
The polling firm also noted the “multi-partisan” nature of the rejection. As expected, most Republicans opposed the giveaway and were the highest percentage of respondents (67 percent) who disagreed. But a majority of Democrats (55 percent) and Independents (56 percent) also disagreed with Biden’s move.
Only one group was below 50 percent disapproval: Self-described “liberals,” though a plurality of them — 42 percent — also said taxpayer-supported student loan forgiveness is unfair.
Here’s a complete breakdown, via TIPP Insights:
“Some other interesting, and perhaps surprising, trends emerged from the data. One was that, in general, the younger the respondent the poll, the more likely they were to agree that student-loan forgiveness was a bad idea,” the polling firm noted in its analysis.
“Among those 18-24 years of age, 65% agreed it was unfair; for those 25-44, that number shrank to 60%; for the 45-64 group, to 57%; and for those over 65, it was 59%,” said the firm, adding that lower earners were less likely to find the giveaway unfair versus higher earners.
Another statement — “President Biden’s student loan forgiveness is driven by political considerations to appeal to some voters in the upcoming midterm elections” — drew an even higher number of respondents who agreed, 65 to 27 percent.
“So rather than being seen as a noble effort to ease the huge debt burdens of some struggling college graduates and current students, Biden’s move seems to be widely seen as a cynical political stunt to win votes in the upcoming midterms,” TIPP Insights noted.
The polling firm also noted that Americans seem to understand as well that it’s not really ‘student loan debt forgiveness,’ it’s just asking people who did not incur the debt to pay for those who did.
“No matter how you slice it, the government hasn’t forgiven loans. It has instead forced the rest of us to pay them back,” notes the American Institute for Economic Research. “Notably, it has forced people who didn’t go to college to pay for those who did.”
Also, there appears to be direct political fall-out from the giveaway. As reported by the Daily Caller website, citing a Convention of States’ Action poll:
“More than 55% of voters are ‘less likely’ to back a candidate who is in favor of the Biden administration’s student loan forgiveness plan, with about 31% saying they are ‘much more likely’ to support those who backed the president’s plan … Among independent voters, 64.6% say they are ‘less likely’ to choose candidates who back the forgiveness plan.”