Good News: One College Is Cancelling Some Student Debt
One university, Delaware State University, announced this week that it is using money from the American Rescue Plan to cancel up to $730,655 in student debt. The debt was cancelled, the university said, for “recently graduated students who have faced financial hardship during the COVID-19 pandemic.”
There has been much controversy lately over what is allowed to be done with money from the federal government’s American Rescue Plan. But one thing that is allowed is for colleges and universities to cancel student loan debt.
One university, Delaware State University, announced this week that it is using money from the American Rescue Plan to cancel up to $730,655 in student debt. The debt was cancelled, the university said, for “recently graduated students who have faced financial hardship during the COVID-19 pandemic.”
Delaware State University will use Biden s stimulus to cancel over $700,000 in student debt
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College Cancels Student Loan Debt Using Money From Biden s Stimulus Bill
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Delaware State University will cancel more than $730,000 in student debt for recent grads who have experienced financial hardship caused by the COVID-19 pandemic.
The historically Black university made the announcement Wednesday in a press release, with Vice President for Strategic Enrollment Management Antonio Boyle estimating that the average student will qualify for about $3,276 in debt relief. The funds to cover the debt relief come from the federal American Rescue Plan.
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“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,” Boyle said in a statement.
47abc
May 12, 2021
DOVER, Del. – Delaware State University officials have announced that the school will cancel up to $730,655 in student debt for recently graduated students who have faced financial hardship during the COVID-19 pandemic.
Vice President for Strategic Enrollment Management Antonio Boyle says that the average eligible student will qualify for an estimated $3,276 in debt relief. He also noted that 87% of DSU graduates are either entering their career of choice or graduate school within six months of commencement.
We’re told the funds necessary to cancel these students’ debt became available through the federal government’s American Rescue Plan for COVID-19 relief.