Student Loan Forgiveness Update: 67% of Young People Are Skeptical Debts Will Be Canceled
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Young people are not holding on to much hope that the Biden administration’s student loan forgiveness plan will survive the legal challenges before the Supreme Court.
About two-thirds (67%) of a surveyed group of 11,000 college and high school students said they don’t think loan forgiveness will happen, according to a recent report from ScholarshipOwl.
The college scholarship search site polled users of its platform to gauge how Gen Z students view the likelihood of the loan forgiveness plan coming to fruition. It's worth noting that the survey included students who are not necessarily eligible for forgiveness, but 42% of respondents said they have qualifying loans and 29% self-identified as recipients of Pell Grants, federal grants targeted toward lower-income students.
