59% of Americans worry student loan forgiveness will make inflation worse, CNBC survey finds

Sharon Epperson & Stephanie Dhue:

Yet, a new poll finds Americans worry that debt forgiveness could have unintended consequences. 

Already battling higher prices, 59% of Americans are concerned that student loan forgiveness will make inflation worse, according to a new CNBC survey,conducted online by Momentive among a national sample of 5,142 adults from Aug. 4 to 15.

Still, the concern that canceling student debt would give borrowers more money to spend and therefore increase inflation may not hold true for many borrowers. Some say they would not change their spending habits if their college debt — or a portion of it — is canceled. Also, others haven’t made many changes during the payment pause.