Student Loans: A Major Factor in the Upcoming US Election

Nearly 20% of Americans say student loans will influence their vote in the presidential election, per a Bankrate survey. With student debt at $1.77 trillion, per the Federal Reserve, it's a key issue.

Trump vs. Biden on Student Debt

Former President Trump and President Biden differ sharply: Biden's relief initiatives have forgiven $160 billion, while Trump praised the Supreme Court for blocking the program. Trump previously backed income-driven plans.

29% of respondents with student loans said debt will greatly impact their vote, per the survey.

Rising College Costs, Debt Crisis

With college costs rising, the national student loan balance has increased 66% in a decade. The average degree costs $25,707-$218,000, per the Education Data Initiative.

Bankrate found 27% feel the government hasn't done enough, with a third calling debt a "crisis." Analyst Sarah Foster noted borrowers have felt a "dark shadow" financially. Nearly a quarter expect to never pay off loans.