WACO, TX (FOX 44) – With President Biden’s announcement to forgive student loans, Baylor students kicked-off classes this week to further their studies.

It’s Board of Regents approved of a three percent tuition increase this academic year to now cost nearly $26,000 a semester.

Baylor students had a lot of questions and concerns about President Biden’s plan on whether it related to them and what this would mean for their families, or if they can even qualify for assistance.

“I hoped that it could help me in some way. I don’t know if it would, actually, but that would be pretty nice,” said Haley Johnson, sophomore preaudiology major at Baylor.

Johnson has big goals to be a humanitarian audiologist in the future, however, being the youngest of her three siblings who are all in school has made a financial dent in their pockets.

“For myself, I’ve taken about $6000 a year, so that’ll be $24,000 by the time I graduate, and that’s just for undergraduate,” said Johnson.

The rest of Johnson’s tuition is covered by scholarships and her parents taking out loans to help out.

Her family hits above the income bracket for Pell Grants and would like to see more done.

“I hope that it either expands to help families who have multiple kids in college, and even though they understand that maybe we have money to pay, it’s still not a livable thing,” said Johnson.

Junior communications major, Brandon Davis, is on the opposite end of the president’s announcement.

“It’s bad policy. I’m not a big Biden supporter. He hasn’t done a very good job at all during his presidency,” said Davis.

Davis highlights increased taxes to potentially come with student loan forgiveness

“Definitely, it’s going to hit the middle class severely, and that’s my biggest concern because I’m middle class and I feel like a lot of people who are at Baylor are middle class as well,” said Davis. “I feel like it’s going to hurt a lot of students here.”

Loan forgiveness with President Biden’s plan will mainly benefit individuals with low income, the only way Davis can see this being acceptable is if everyone benefits.

“That’s unfair. I feel like it should be just one balance for everybody instead of different levels of income and how much you work,” said Davis.