Nearly one in five students say student debt will have a major influence on their vote

Nearly 18 percent of Americans believe student debt will have a major influence on how they vote in November, according to a Bankrate survey.

Among the sample of those with unpaid student loans — there are more than 40 million borrowers nationwide — that number stands at 29 percent.

President Biden and former President Trump have very conflicting views when it comes to student loans.

Biden canceled millions of dollars in student debt, attempted to institute universal loan forgiveness, and significantly reformed income-driven repayment plans. Trump has remained relatively silent on how he might combat rising student debt, but he has made clear that he believes the Supreme Court was justified when it struck down Biden’s debt relief for all.

“Today, the Supreme Court also ruled that President Biden cannot forgive hundreds of billions, if not trillions, of dollars in student debt, which would have been very unfair to the millions and millions of people who paid their debt through hard work and diligence. Very unfair,” Trump said at the time.

The Bankrate survey found that 29 percent of respondents believe student loans are a national crisis, compared to 46 percent among those who currently hold such debt.

Twenty-seven percent say the federal government hasn’t done enough to reduce student debt, and 24 percent of borrowers say they have trouble making their monthly payments.

“Student debt is often seen as taking a back seat to other pressing issues for voters, given that a small portion of the U.S. population is in student debt,” said Sarah Foster, an analyst at Bankrate .

“Yet, often feeling powerless in the face of this issue, Americans appear to be saying that they should not be left alone to manage the burden of student debt and that the complex challenges of student debt and college affordability “College studies are a responsibility that their elected representatives should address,” Foster added.

The survey was conducted May 16-20 and surveyed 2,407 U.S. adults, including 1,033 who had or currently have student loans to repay. It did not indicate a margin of error.