Fifty-eight percent of respondents reported that they would either "probably not" or "definitely not" be able to afford their payments. Women (66%) and adults in households earning less than $50,000 per year (68%) were more likely to be unable to make their payments.
The average borrower has about $29,000 in student loan debt. Of those who owe $25,000 or less, 54% said that paying their loans was unaffordable.
The survey was conducted on August 27-28 among 715 US adults with student loans.
The White House announced last month that student loan payments will resume next year and at least $10,000 of student loan debt will be canceled for each eligible borrower. In March 2020, amid the onset of the COVID-19 pandemic, the Department of Education granted forbearance to holders of federal student loans, with an estimated 60% of all borrowers taking advantage of the program.