City Colleges Of Chicago Offer Debt Forgiveness Amid Pandemic For Former Students
In an effort to help boost the city’s post-COVID-19 economic recovery, City Colleges of Chicago are offering debt forgiveness amid the pandemic to thousands of former students who dropped out over the last decade. The new initiative, called the “Fresh Start” program which was launched on Tuesday by Mayor Lori Lightfoot.
The program will allow more than 21,000 former students, who’ve left school in the last 10 years in good standing, to return, complete their degrees and clear their debts as early as this fall. Furthermore, the mayor’s office lists an approximate total of $17.7 million in debt for this particular group of former students.
Lightfoot states, “Many of Chicago’s students are kept from finishing college due to debt that forces them to pause their academic journey. With Fresh Start, former City Colleges students will be able to finish college debt-free, pursue their dream careers and set themselves up for success in the post-COVID economy. This exciting new initiative is the next big step to ensure all Chicagoans, no matter their circumstances, have equal access to the resources needed for upward mobility.”
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