Ahead of President Joe Biden’s decision on student loan forgiveness, a CNBC/Momentive survey finds mixed views on the issue and concerns about economic impact.
Malcolm Newman, who works at The Academy of Natural Sciences in Philadelphia, earned a bachelor's degree in environmental science from Drexel University. Now 26, he said he's been paying back private student loan debt during the moratorium on federal student loan repayment.
The CNBC survey found that 53% of adults polled say if forgiveness put extra money back in their monthly budget, they would pay off other loans, and 45% said they would save that money for retirement.The survey found that 30% all adults say there should be no student loan forgiveness for anyone. Meanwhile, 34% of respondents say only those in need should have loans forgiven and 32% are in favor of loan forgiveness for all who have student debt.Tonya Edmonds, an artist and administrative assistant, earned a bachelor's degree from Temple University and master's degree from Sarah Lawrence College. She now owes more than six figures in student debt.
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