More Would Choose Free Health Care Over Student Loan Forgiveness

What would you rather have – free universal health care or total student loan forgiveness?

LendEDU surveyed 1,000 Americans and found 60% opted for the free health care as opposed to 40% who want to see the nation’s $1.61 trillion in student loan debt erased.

More than half (58%) of respondents said they would rather see their children have access to free health care than to a free college education.

Implementing free universal health care would carry a higher price tag to the nation than would eliminating student loan debt, the researchers noted. The estimated price of free universal health care would likely fall somewhere between $25 trillion and $36 trillion over 10 years according to various plans from think-tanks and economists.

LendEDU reported recent college graduates have an average of $28,565 in debt by the time they receive their diplomas. Meanwhile, the average cost of health insurance was $18,764 for the average family in 2017, with $5,714 of that being out-of-pocket expenses.

“All things considered, 40% of respondents opting for complete forgiveness was a strong representation of the great burden that student loan debt places on people,” according to a LendEDU news release.

Susan Rupe is managing editor for InsuranceNewsNet. She formerly served as communications director for an insurance agents' association and was an award-winning newspaper reporter and editor. Contact her at [email protected]. Follow her on Twitter @INNsusan.

© Entire contents copyright 2020 by InsuranceNewsNet.com Inc. All rights reserved. No part of this article may be reprinted without the expressed written consent from InsuranceNewsNet.com.

Susan Rupe is editor in chief, magazine, for InsuranceNewsNet. She formerly served as communications director for an insurance agents' association and was an award-winning newspaper reporter and editor. Contact her at [email protected].