According to a survey, many borrowers took out student loans anticipating debt forgiveness

As part of his campaign for the White House, Joe Biden 

promised to forgive federal student loan debt up to $10,000 per borrower. 

Recent surveys suggest that many borrowers have taken out student loans on the basis of that promise. 

Based on a survey conducted by Intelligent, 86% of those who have taken on student debt 

since Biden won the election in 2020 said his campaign promise influenced their decision.

About one in three of those borrowers said they will not continue studying if Biden does not cancel their debts.

Approximately 21% of survey respondents said that without Biden's campaign 

On student loan forgiveness, they were unlikely or extremely unlikely to 

Take on the same amount of debt. About a quarter of borrowers said 

they would not have continued their education without the promise of debt forgiveness.

Refinancing private student loans could lower your monthly payments 

if you took out these loans. Your credit score will not be affected 

if you visit Credible to find your personalized interest rate.

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