Many people voiced their opposition last week when Betsy DeVos became the Secretary of Education. In fact, some in her own party aren’t convinced she can do the job, with two GOP members voting against the confirmation. DeVos got the job after Vice Pres. Mike Pence put in the tie-breaking vote which was actually the first time ever in history.
And it hasn’t been smooth sailing since then either. DeVos had to flee a small group of protestors that blocked her from entering a DC school. One of the protestors—a refugee from Afghanistan—has been charged with assault for the incident.
One of the big issues that critics have with DeVos is her lack of experience—and refusal to take a firm stance—with student loan debt. She has never needed financial aid to get through school, and it’s no one is sure what her plan of action is for student loans. Student loans are a big issue for our country. Americans owe over $1.3 trillion in student loan debt.
To get a read on how borrowers feel about DeVos as well as President Donald Trump, LendEDU conducted a survey of 500 people currently repaying student debt, with most owing about $20,000.
The results found that most respondents don’t have high hopes for the new Secretary of Education. In fact, 42% believe the DeVos will have a “negative” or “very negative” impact on student loan repayment while about 34% say DeVos will have “no impact” on student loans. And when asked if they thought her lack of personal experience with loans and aid would impair her ability to effectively handle the problem, 66.8% said either “definitely” or “probably.”
When it comes to President Trump, 46.8% believe he will have a “negative” or “very negate” impact on student loan repayment, while 47.4% think he will do a worse job than his predecessor, Barack Obama, when it comes to fixing the student loan debt crisis.
In addition, the vast majority of respondents—66.2%—think the President should spend more time on fixing the student loan debt crisis and less time focusing on immigration. And it should come as no surprise that most think that a free tuition program was either a “great” or “good” idea,
It wasn’t all bad news for Trump, though. His own student loan plan does have the majority of support from respondents, with 32.8% agreeing with one part that would call for monthly payments for federal student loans limited to 12.5% of the borrower’s income, and 62.6% approving of the second part of the plan, which would have offer forgiveness on the remaining balance on one’s student loans after 15 years of payment.
Image Copyright Ted Eytan.