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.
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