What Would You Do for Student Loan Forgiveness? New Poll Shows Debt Worries Loom Large for Millennials

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Nearly half of all respondents in a recent poll said they would give up voting in the next two presidential elections if their student loans would be forgiven.

And while surrendering a fundamental right might seem crazy, the latest numbers on student loan debt are equally staggering.

According to The Institute for College Access and Success, “average student debt at graduation in 2016 ranged from $20,000 in Utah to $36,350 in New Hampshire, and new graduates’ likelihood of having debt ranged from 43 percent in Utah to 77 percent in West Virginia.”

The Credible survey, conducted by Pollfish, asked 500 people between the ages of 18 and 34 what they would be willing to do to free themselves of student loan debt.

While giving up the right to vote was the most popular answer, 43.6 percent of respondents said they would rather never be able to use a ride-sharing app again versus having student loan debt. Another 42.4 percent said they would give up traveling outside of the country for five years if it meant being debt-free, and 27 percent said they would even live with mom and dad at home in exchange for student loan forgiveness.

The option respondents were least willing to do? Give up texting for a year.

Only 13.2 percent of respondents said they would be willing to go without texting for a year in exchange for student loan forgiveness.

Check out the full survey here.

Ashley Dobson is NACAC’s communications manager for content and social media. You can reach her at adobson@nacacnet.org.

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