Local student says loan forgiveness would provide much-needed relief

Aug. 25—ANDERSON — Kara Leigh Jones, 33, has been working on her bachelor's degree in psychology off and on since 2009.

"Life just kept getting in the way," said the mother of four. "I had my first kid coming right out of high school, and I have been stopping and starting ever since."

But shortly after the Anderson resident completes that long sought-after degree at Purdue Global Online in May, she will have to start repaying the $54,000 in loans it took to get it.

Jones is one of many residents of Madison County and nearby communities who will benefit from the student loan debt plan announced Wednesday by President Joe Biden.

"I think it' absolutely amazing, and it is something that we need. Coming off of this pandemic, with so many families in financial trouble, it's just what we need," she said. "I think it will cut down payments and make a drastic difference for middle class and low-income families, actually,"

The part-time daycare worker, who became interested in studying psychology after working as a paraeducator in Anderson Community Schools, is involved in an Obama-era income-based repayment plan.

But as she earns more money, Jones said, she will be on the hook for about $360, the equivalent of a car payment, each month.

"That $20,000 off of those loans will really, really help," she said. "It represents a lot."

Keeping more of their money means the possibility of more extracurricular sports activities for her children.

Reducing the amount of debt also would help Jones, whose family rents a home, achieve the American dream of home ownership.

"When you have that sitting on your credit, that can make a difference, too, because it still looks like money owed," she said. "I would love to be a homeowner, and honestly, this would make that a little bit achievable."

But with plans to earn a doctorate so she eventually can open her own practice, Jones anticipates her student debt will become much larger.

"I will be swimming in student loans once it is over with."

Follow Rebecca R. Bibbs on Twitter at @RebeccaB_THB, or call 765-640-4883.