HANCEVILLE, Ala. – Wallace State Community College has stepped up to the plate to help ease the financial burden of their students, forgiving all debt from previous semesters (yes, ALL of it).
The amount totaled a whopping $585, 800 in student debt.
Eligible students were notified earlier this semester that their balances had been cleared, as well as any balance-related holds on their accounts.
Dr. Vicki Karolweics, Wallace State President said they wanted to help their students to be able to continue their education. Knowing the financial pains many of their students faced during the pandemic, they decided there was a way to do that.
“This is just one of the many ways we are supporting our students during this time,” said Dr. Karolweics.
To be able to clear the debts, the college used special institutional funding from the U.S. Department of Education’s Higher Education Emergency Relief Fund (HEERF) from the Coronavirus Response and Relief Supplemental Appropriations Act (CRRSAA), and The American Rescue Plan (ARP).
Wallace State will also be able to offer HEERF stimulus payments to eligible students enrolling in the coming semesters. That money will go directly to students and will allow them to use it for pretty much any aspect of their education, from tuition to childcare.
At least $7 million will be distributed to students at the college in the coming year.
The majority of students will be qualified for the funds under federal guidelines and does include high school students that are dually enrolled.
The funds will be awarded using existing enrollment information, and automatically distributed, so students won’t need to contact the college to request them.