{"id":1971204,"date":"2023-07-12T18:39:01","date_gmt":"2023-07-12T22:39:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/a-third-of-student-debt-holders-spent-extra-money-they-thought-would-be-wiped-clean-poll\/"},"modified":"2023-07-12T18:39:40","modified_gmt":"2023-07-12T22:39:40","slug":"a-third-of-student-debt-holders-spent-extra-money-they-thought-would-be-wiped-clean-poll","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/a-third-of-student-debt-holders-spent-extra-money-they-thought-would-be-wiped-clean-poll\/","title":{"rendered":"Poll: 1\/3 of student debt holders used &#8220;extra money&#8221; they believed would be forgiven."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fa-third-of-student-debt-holders-spent-extra-money-they-thought-would-be-wiped-clean-poll%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1971204&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Roughly a Third of Americans Spent Money Assumed to be Forgiven Under Biden&#8217;s Student Loan Forgiveness Plan<\/h2>\n<p><span style=\"font-weight: 400\">According to a new poll by Intelligent.com, approximately one-third of Americans with <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/a-third-of-student-debt-holders-spent-extra-money-they-thought-would-be-wiped-clean-poll\/\" title=\"Poll: 1\/3 of student debt holders used \"extra money\" they believed would be forgiven.\">student loans spent money<\/a> they wouldn&#8217;t have normally spent because they were confident it would be forgiven under President Joe Biden&#8217;s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/browbeating-the-white-house-stacey-abrams-warnock-pushing-biden-on-student-loan-forgiveness-to-fire-up-base-report\/\" title=\"\u2018Browbeating The White House\u2019: Stacey Abrams, Warnock Pushing Biden On Student Loan Forgiveness To Fire Up Base: Report\">student loan forgiveness plan<\/a>.<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400\">&#8220;The Supreme Court decision is a cold shower for those who had their hopes pinned on a $10,000 relief,&#8221; said James Allen, founder of personal finance website Bullpin.com. &#8220;It&#8217;s like waiting for a tax refund only to find out the IRS made a mistake.&#8221;<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">The poll surveyed 977 people who would have qualified for at least $10,000 of debt relief under Biden&#8217;s plan, which was recently struck down by the Supreme Court. Of those surveyed, one in three admitted to spending &#8220;extra money&#8221; because they assumed their debt would be forgiven. Shockingly, some even used that money for vacations, retail items, and vices like alcohol, drugs, and gambling.<\/span><\/p>\n<h3>Spending Habits and Amounts<\/h3>\n<ul>\n<li><span style=\"font-weight: 400\">31% spent between $2,501-5,000<\/span><\/li>\n<li><span style=\"font-weight: 400\">27% spent between $1,000-2,500<\/span><\/li>\n<li><span style=\"font-weight: 400\">17% spent between $5,001-$7,500<\/span><\/li>\n<li><span style=\"font-weight: 400\">9% spent between $7,501-$10,000<\/span><\/li>\n<li><span style=\"font-weight: 400\">5% spent more than $10,000<\/span><\/li>\n<li><span style=\"font-weight: 400\">11% spent less than $1,000<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">When it comes to what they spent the money on, the majority (44%) used it for retail items, while 37% used it to pay off other debts. Other expenses included home and auto payments, childcare, and down payments on vehicles and homes.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Surprisingly, 20% of respondents admitted to spending the &#8220;extra money&#8221; on vacations, 8% used it for alcohol or drugs, and 7% used it for gambling.<\/span><\/p>\n<h3>Concerns and Refusal to Pay<\/h3>\n<p><span style=\"font-weight: 400\">Over half of borrowers now feel unprepared for the resumption of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/heres-what-each-of-bidens-42-executive-orders-will-actually-do\/\" title=\"Here\u2019s What Each Of Biden\u2019s 42 Executive Orders Will Actually Do\">student loan repayment<\/a> in October. 35% say they are &#8220;very unprepared,&#8221; and 23% say they are &#8220;somewhat unprepared.&#8221; Additionally, more than a quarter of respondents claimed they might refuse to pay the $10,000 that would have been forgiven under the president&#8217;s plan.<\/span><\/p>\n<h3>The Supreme Court Decision<\/h3>\n<blockquote>\n<p><span style=\"font-weight: 400\">Late last month, the Supreme Court struck down Biden&#8217;s loan forgiveness plan in a 6-3 decision. The court stated that the plan exceeded the Secretary&#8217;s authority and could not rewrite existing statutes.<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">According to a White House fact sheet, 26 million Americans had applied or were eligible for the debt relief, which targeted individuals making less than $125,000 or couples making less than $250,000. The plan would have forgiven up to $20,000 for those who received Pell Grants. The Congressional Budget Office estimated the plan&#8217;s cost to be around $400 billion.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A recent poll by Intelligent.com reveals that around 33% of Americans with student loans made additional expenses, believing that President Joe Biden would forgive their debts. The survey, conducted among 977 eligible individuals for a minimum of $10,000 relief, sheds light on the confidence placed in Biden&#8217;s student loan plans.<\/p>\n","protected":false},"author":1530,"featured_media":1971205,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[],"class_list":["post-1971204","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1971204","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1530"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1971204"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1971204\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1971205"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1971204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1971204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1971204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}