Author: Caitlin Peartree

One issue that has been of interest to us is connecting academic subjects with the concrete, usable skills they impart. To what extent do voters connect academic subjects with the real-world skills that students will need as adults?

To begin to answer this question, we asked voters two questions on our latest survey for Winning the Issues (June 14-16). First, how important is it for students graduating high school to understand variables and equations? Then, how important is it for students graduating high school to understand how a mortgage works, including what the monthly payments would be and how long it would take to pay it off? Understanding variables and equations, the foundation of algebra, is arguably foundational for being able to understand the mechanisms of taking out and repaying a loan for a house.

As shown in the table below, majorities of voters said both would be important, but with a gap between the importance of understanding variables/equations (79-18 important-not important) and the importance of understanding a mortgage (92-6). This was similar among parents (78-19 for understanding variables/equations; 93-5 for understanding a mortgage).

The difference in perceived importance is even greater when looking only at those who called each “very important.” Overall, 41% of voters said understanding variables and equations was very important. In contrast, two-thirds (67%) said understanding how a mortgage was very important, a difference of 26 points. The margin was only a little narrower among parents (18 points), with 46% saying that understanding variable/equations was very important and 64% saying that understanding a mortgage was very important.

While understanding both algebra and a mortgage are seen as important, voters clearly place more emphasis on the mortgage, demonstrating the disconnect between the academic subjects typically taught at school and the types of “real-world” skills parents typically say they want for their kids. Last week, we highlighted the recent NPR/Ipsos survey, showing that 40% of parents were concerned about students being prepared for the future. While there are many ways K-12 education could (and should) address this concern, a good first step might be to more closely demonstrate the links between what students are already expected to know when they graduate and the skills they will need as adults.

Previously, we have taken a look at the issue of chronic absenteeism, specifically a study that indicated parents both underestimate their child’s absences and are not all that concerned about the issue either. New data from a recent NPR/Ipsos survey reinforces this conclusion, but it also sheds light on what parents say they are concerned about.

Chronic absenteeism falls low on the list of potential concerns, coming in last (excluding “other”), with 5% of parents reporting being concerned. Other issues liked standardized tests (#11, 9% concerned) and learning loss (#8, 14% concerned) also fell lower in the list of priorities.

What are parents worried about? The top two concerns were bullying (39% concerned) and young people not being prepared for the future (40% concerned). The latter concern is especially shared by those who are not parents. Some 43% of US adults also said that they were concerned about the ability of our K-12 education system to prepare students for the future.

This is a concern that many have shared for some time, though it seems to be growing for parents. Data from a November 2021 survey for Winning the Issues showed only a bare majority of voters overall (52%) were confident in the ability of the US education system to prepare students for the future (52-42 confident-not confident). Parents, however, were more confident (64-32), in contrast to the 40% presently saying this is a concern.

At the end of last month, President Biden announced the latest round of student loan debt cancellation, wiping out $7.7 billion in loans for some 160,000 people. Combined with the other, more targeted student debt cancellation measures Biden has pursued as a piecemeal alternative to the mass cancellation the Supreme Court struck down last year, President Biden has now canceled around $167 billion worth of loans.

To put that number in context, we again took a look at that total cost in the context of funding for other agencies as we did last year for the mass cancellation. For the current purposes, we use the 2024 estimated budget authority for various agencies from the OMB Historical Tables (see table 5.2: Budget Authority by Agency: 1976-2029). So far, the cost of piecemeal student loan forgiveness exceeds the estimated 2024 budget authority for the Departments of Commerce, Energy, Justice, and State combined.

To check our work, we performed the same exercise looking at the estimated outlays for 2024 (see table 4.1: Outlays by Agency, 1962-2029). The conclusion was nearly the same. The cost of Biden’s student loan cancellation to date virtually matches the estimated outlays of the same four agencies combined.

In other words, the cost of loan cancellation to date would have funded four different agencies for this fiscal year. President Biden may not have been able to pursue loan cancellation as he originally envisioned, but the cost of doing so still meets or exceeds the cost of running multiple agencies.