Americans Call on Biden, to Forgive Student Debt.
Democratic lawmakers have
put pressure on President
Joe Biden to cancel $50,000
in student debt per borrower.
Biden has reportedly asked the Education and Justice Departments to review his ability to do so by means of an executive action. .
Business Insider reports that a large
number of Americans may support
an even bigger debt jubilee.
A survey from GoBankingRates found that
of 3,600 Americans surveyed, 52% supported
blanket student-loan forgiveness. .
The results align with a study by
The Harris Poll that found 55%
of Americans supported
forgiveness of all student debt. .
According to an estimate from the
American Association of Retired Persons,
8.4 million borrowers ages 50 and older
hold 22% of the total federal debt load.
That 22% equals $336.1 billion, with as much
as 10% interest charged annually adding
to the already staggering amount of debt.
Last month, Business Insider reported
that many older Americans fear they
will die with their student debt. .
So far, Biden has not said whether
he will act on the push for blanket
student-loan forgiveness.