Student Debt Has Become a Potent Political Issue

There was a lot of talk about student debt – and various methods of reducing it – during the presidential primary season. While discussion of this issue has all but disappeared in the general election phase, some new research suggests that it remains a potent subject.

Online textbook price comparison service recently surveyed students and parents, and found that the issue of student debt will definitely influence their political choices this fall.

According to the survey, 90% of voting students and 84% of parents say candidates’ positions on student debt is important when deciding who they’ll vote for:

“83% of students and 65% of parents say changes should be made to reduce the burden of student debt.

Favored student debt relief strategies include:

  • Income-based repayment (70% students, 51% parents)
  • Increased government-sponsored financial aid (68% students, 38% parents)
  • Complete student loan forgiveness (45% students, 22% parents)

In addition, 18% of students and 27% of parents prefer total individual accountability; while just 5% of students and 8% of parents say no changes should be made to the current system.

Student debt is as important as unemployment and health care.”

Wow, that last finding is really powerful, but it underscores just how massive the student debt crisis has become. We now have legions of young people emerging into the workforce with six-figure debt burdens.

So, it’s entirely not surprising that both students and parents are looking to political leaders for possible solutions.

Copyright Today’s Credit Unions