These poll numbers were released earlier today by Rasmussen Reports -- "an electronic publishing firm specializing in the collection, publication, and distribution of public opinion polling information."
49% Think New Student Loan Plan Is A Bad Idea, 35% Like It
April 1, 2010
President Obama this week signed into law a plan that gets the federal government more directly involved in the student loan market, but just 35% of Americans think that's a good idea. Most don't think it will save the billions of dollars the president says it will, either.
A new Rasmussen Reports national telephone survey finds that 49% of adults think it's a bad idea for the federal government to get more directly involved in the student loan market. Sixteen percent (16%) more are not sure about the plan under which students will borrow money directly from the government rather than through a private bank.
Those who say they or a member of their family has a student loan are evenly divided over the new plan: 41% say it's a good idea, while 42% don't like it.
In the ceremony signing the new law on Tuesday, the president said it will save the student loan program about $68 billion "in the coming years," according to USA Today. Forty percent (40%) of Americans believe it is at least somewhat likely that cutting private banks out of the student loan process will save billions of dollars. That includes 20% who say it's very likely.
But 51% think those savings are unlikely, with 33% who say they are not very likely and another 18% who say they are not at all likely.
Just 28% like the new law's provision that the government will forgive any money it is still owed after 20 years. Sixty-two percent (62%) don't think that's a good idea. Under current law, those debts are forgiven after 25 years if regular payments have been kept up.
Interestingly, even 55% of those who say they or a family member has a government student loan oppose the idea of forgiving any money that's still owed after 20 years.
Twenty-nine percent (29%) of Americans say they or someone in their family has such a loan. Sixty-seven percent (67%) say they do not.
Support for direct government involvement in the student loan market is highest among adults ages 18 to 29 and those who earn more than $75,000 per year. Government employees like the idea more than those who work in the private sector.
Democrats are much more enthusiastic about the student loan changes than Republicans and adults not affiliated with either major party.
Seventy-two percent (72%) of Republicans think direct government involvement in the student loan market is a bad idea, while a plurality (49%) of Democrats like the move. Thirty-seven percent (37%) of unaffiliateds think it's a good idea, but 49% don't.
Sixty-three percent (63%) of Democrats think billions in savings are likely. Seventy-eight percent (78%) of Republicans and a plurality (49%) of unaffiliateds find those savings to be unlikely.
However, the majority of all three groups oppose forgiving unpaid student loans after 20 years.
Fifty-six percent (56%) of adults say they have followed recent news reports about the government student loan program at least somewhat closely. Forty-one percent (41%) have not.
Sixty percent (60%) of adults believe every American should attend a post-secondary school institution , whether it be college or some kind of vocational school. In today's economic environment, 66% say a college degree is still a good investment, while just 19% disagree.
In terms of finding a job, though, 47% say personal networking is the best way to find a job . But 27% say they're likely to go back to school to prepare for a new career .