Montevallo alumni react to President Biden’s student loan forgiveness announcement

Student loan debt relief announcement
Published: Aug. 24, 2022 at 9:08 PM CDT
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BIRMINGHAM, Ala. (WBRC) - President Joe Biden announced his plan for student loan debt forgiveness on Wednesday.

Two alumni from the University of Montevallo are looking forward to their future knowing some of their student loan debt will be forgiven.

University of Montevallo alumna Laurel Dobbins said excitement and relief is what she felt when she heard the news.

Dobbins, a 2015 graduate from the University of Montevallo, says seven years later, she’s still paying off her student loans.

“Student loans are something I’ve carried with me since I’ve graduated college,” Dobbins said. “The ability to pay off my student loans quicker allows my husband and I buy a house and build a family, carrying that with me has been a huge burden throughout my time after graduating.”

Jason Perry says it makes him feel like someone cares. Perry got his undergraduate and graduate degree from the University of Montevallo.

Perry said this loan forgiveness gives him hope.

“Just being able to see our students have a little bit of relief coming out of college and to see people like me who were here also and had those same worries and challenges, to see some relief come from that I think its inspiring,” Perry said. “Everyone should have the opportunities to pursue your dreams and this financial barrier shouldn’t be the thing that stops us from that.”

Biden outlined his plan to forgive $20,000 if you went to college on Pell Grants and $10,000 if you did not.

Both forgiveness options are for people who earned less than $125,000 in either the 2020 or 2021 tax year.

It was also announced an extension of the pause on student loan payments through Dec. 31, 2022, which is the final extension.

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