The Source |Delaware State University Cancelling More Than $700,000 Of Debt For Recent Graduates
Students graduating from Delaware State University this year are in for a special gesture from the school. Wednesday, May 12, the DSU announced plans to cancel more than $700,000 in student loans for recent graduates affected by the pandemic. In a statement from the university, officials said
“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,” said Antonio Boyle, DSU’s Vice President for strategic enrollment management. “While we know our efforts won’t help with all of their obligations, we all felt it was essential to do our part.”
The university plans to pay for student’s expenses with funds made available through the Biden administration’s $1.9 trillion coronavirus relief plan for waiving eligible students’ debt, according to a statement from the HBCU.
According to the university, “the average eligible student will qualify for about $3,276 in debt relief.” University President Tony Allen stated reducing student debt is consistent with DSU’s goals to keep student debt manageable.
“Our students don’t just come here for a quality college experience,” said Dr. Allen. “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.”