Nearly half — 48% — of student loan borrowers expect debt forgiveness in the future.
Many of those borrowers anticipate that the government will excuse them from their education loans, according to Sallie Mae’s annual How America Pays for College report.
(Between April 8 and May 14, global market research company Ipsos conducted the online interviews, which included 1,000 undergraduate students and 1,000 parents of undergraduate students.)
While there are ample opportunities for relief, consumer advocates warn families not to make borrowing decisions based on the assumption that they won’t have to repay the debt.
To that point, tens of millions of student loan borrowers did not receive debt cancellation when the Supreme Court rejected President Joe Biden’s plan to forgive up to $20,000 in student debt per borrower last summer.
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