Many of the voters with debt who will benefit from President Joe Biden's student loan relief plan live in key battleground states, a new analysis by the Department of Education finds.
The analysis, released Tuesday, breaks down the number of federal student loan borrowers and Pell Grant recipients—each eligible for up to $10,000 or $20,000 in relief—by state. Millions live in states with close races that could shift the balance in this fall’s midterm Congressional and state elections. In Florida, 2.4 million people will be eligible for some debt forgiveness. Another 1.5 million will get relief in Georgia and another 1.7 million Pennsylvania residents can expect to have some loans forgiven.
That analysis is missing data for about 3.8 million of the estimated 43 million people eligible for the program.
In a recent poll of 4,100 registered voters conducted by the youth-advocacy group Rise, 27% of respondents between the ages of 18 and 30 ranked student debt forgiveness as the most beneficial action Biden has taken for Americans. Overall 72% of respondents across the political spectrum supported student debt forgiveness, including those who previously held or never held student loans.
Republican governors oppose the plan on the basis that it “rewards the rich and punishes the poor.” Anyone who made more than $125,000 in both 2020 and 2021 will not be eligible for relief. Republicans have also considered suing to block the plan, according to reports.
In addition, Indiana, Mississippi and North Carolina have all confirmed they will tax student loan forgiveness, and Arkansas, California, Minnesota and Wisconsin have not said whether they would or wouldn’t do the same. Such a policy could impact up to 7.1 million people across all seven states, according to the Department of Education analysis.
The application period for student debt forgiveness is expected to open in early October.
This article was provided by Bloomberg News.