Delaware State University Cancels $700K in Student Loans for Over 200 Graduates Affected by Pandemic

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The historically Black, public universityannouncedon Wednesday that loans of $730,655 will be allotted to cover the average student debt of $3,276 for more than 220 students.

“While we know our efforts won’t help with all of their obligations, we all felt it was essential to do our part,” Boyle added.

According toBusiness Insider, Education Secretary Miguel Cardona allowed in March for colleges and universities to use funds fromPresident Joe Biden’s stimulus plan — which allocated to $1.9 trillion — for student needs, such as grants, scholarships and canceling debt.

“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,” DSU President Tony Allen said in a statement.

According to Boyle, 87 percent of recent DSU graduates are either entering into their career of choice or graduate school within six months of commencement.

source: people.com