LOUDONVILLE, N.Y. (WKBW) — A Siena College poll released Wednesday morning sheds light on the opinions surrounding President Biden's recent decision to cancel up to $20,000 worth of federal student loans for millions of Americans.
According to the poll, 56% of New Yorkers support Biden's decision and believe canceling some student debt will allow many Americans to get out from under the burden of student loans. They also say debt relief will help both them and the economy.
33% of those surveyed oppose the plan. They say canceling student loan debt will increase inflation. They add this plan is not fair to those who never had student loans, or to those who had loans and already paid them back.
"Support is greatest among Democrats, Blacks, those with a balance on their student loans and New Yorkers under 50 years of age,” said Siena College Research Institute Director Don Levy.
The data shows, 78% of surveyed Black college loan borrowers in the state still have a balance on their loans.
When asked about the logistics of the plan- canceling up to $20,000 in student loan debt for some, up to $10,000 for others and caps the amount any borrower must pay each month at 5% of their earnings- 29% of New Yorkers say he has gone too far. 21% say the plan does not go far enough.
