ALEXANDRIA, Va., and HOBOKEN, N.J. -

As your finance company’s underwriting department receives applications from your dealership network, there’s a notable possibility the person looking to acquire a vehicle also is carrying a fair amount of student loan debt.

According to a recent estimate from the American Bankruptcy Institute (ABI), nearly 18% of American adults have student loan debt, collectively owing a staggering $1.5 trillion. And a recent survey orchestrated by LendEDU showed what kind of things these borrowers would give up in order to have their student loan debt completely forgiven — perhaps making them more favorable for auto financing.

The LendEDU report indicated 62% of student loan borrowers would give up their 2020 vote if it meant their student loan debt was completely forgiven, while 68% would give up social media for five years.

Some other findings of note included:

• Thirty percent would enlist to fight in a hypothetical World War 3 if it meant their student loan debt was completely forgiven

• Sixty percent would give up all streaming services for life

• Fifty-two percent would give up all payment methods besides cash for life

• Forty-nine percent would give up being vegan or have to become vegan for life

• Only 17% would give up hot showers for the next 25 years, the lowest percentage in the report

While not mentioning these particular options, ABI consultant Ed Flynn acknowledged a number of proposals have been advanced to address the issue of student-loan debt, which can be a trigger of pushing individuals into the non-prime and subprime spaces of auto financing.

“Student loan debt is a problem that is not going to go away on its own,” Flynn said in a press release highlighting a research article in the December ABI Journal that takes a closer look at the cost of those possible solutions.

Flynn previously worked for more than 30 years at the executive office for U.S. Trustees and the administrative office of the U.S. Courts.

Flynn added this thought, reflecting why some borrowers might be so apt to give up notable privileges in return for student-loan forgiveness, “Repayments each year barely cover interest and penalties, and the balance owed rises inexorably.”