A new survey shows that about one-third of the Democrat students who borrowed money for schooling after Joe Biden’s promise of a debt forgiveness program will walk away from him at election time if their debts are not canceled.
The report comes from Intelligent.com, which explains it offers various resources to students from its privately funded website that accepts no advertising.
The recent survey found nearly one in three Democrat borrowers won’t vote again for Biden if the loan forgiveness program, on which he campaigned, vanishes.
“Though the recent borrowers we surveyed are confident that Biden will follow through on his promises, they are ready to abandon him at the polls if he does not,” the organization reported. “When looking just at respondents who identify their political affiliation as part of the Democratic Party (46% of the total sample), 31% say they are unlikely (23%) or highly unlikely (8%) to vote for Biden in the next election if he does not cancel any student loan debt.”
“The campaign pledge to address student debt affected my decision to take out student loans because I believed that he would make good on his promise,” said Tom Kelly. “If he is not able to keep this promise, then I may not vote for him in the next election.”
The review also found that 86% of respondents say Biden’s pledge affected their decision to take on student loan debt.
The report explains one of Biden’s “most memorable campaign promises” was his promise to do something about college debt.
However, he has failed to act on that, though recent reports suggest he might be moving toward a cancellation of $10,000 debt per student.
“We asked 1,000 student loan borrowers who have taken on debt since Biden won the 2020 election how much his promise to forgive some amount of student loans affected their decision to take on debt or even go to college in the first place,” the report said.
Besides the 86% who say Biden’s promise affected their acquisition of more debt, nearly one in three say they are unlikely to continue school if Biden fails to follow through, and nearly one in three Democrat borrowers are unlikely to vote for him in the next election.
Twenty-one percent of the borrowers say they would have been unlikely or very unlikely to take on their current debt without Biden’s campaign pledge.
“I would not have taken out as much student loan debt if not for the campaign pledge to address student debt,” said Kelly, of Life Part 2 and a recent student loan borrower. “I would have either attended a different school with less expensive tuition or stayed in school for another year to save on costs.”
Twenty-five percent said they would not likely have continued their education in college without Biden’s commitment, and 30% of recent borrowers who now are enrolled in school “say they are “unlikely (21%) or very unlikely (9%) to continue going to college if Biden does not forgive some amount of student loan debt.”
But they really don’t worry about that much, as 70% remain “confident” that Biden will give them their money back.
The survey was commissioned by Intelligent.com and conducted online by the survey platform Pollfish from June 17 to June 18, 2022. In total, 1,000 participants in the U.S. were surveyed. They were verified to make sure they were of student age, and had taken out a student loan between November 2020 and the present.
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