HBCU Delaware State University Forgives $700K In Students Loans For 200+ Graduates Hit By Pandemic
Delaware State University is forgiving more than $700K in student loans for over 200 of its recent HBCU graduates who were affected by the COVID-19 pandemic.
On Wednesday (May 12), the HBCU announced that they’d be paying off $730,655 in student loans, which will cover the average student debt of $3,276 for more than 220 students, who’ve particularly been burdened during the pandemic. It’s reported that the funding will come from the federal American Rescue Plan Act (ARPA) for COVID-19 relief, sent by the Biden Administration.
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Antonio Boyle, Vice President for Strategic Enrollment Management stated, “Too many graduates across the country will leave their schools burdened by debt, making it difficult for them to rent an apartment, cover moving costs, or otherwise prepare for their new careers or graduate school. While we know our efforts won’t help with all of their obligations, we all felt it was essential to do our part.”
Meanwhile, DSU President Tony Allen stated, “Our students don’t just come here for a quality college experience. Most are trying to change the economic trajectory of their lives for themselves, their families, and their communities. Our responsibility is to do everything we can to put them on the path.”
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