Goodbye student loans!
Delaware State University is doing something extra special for their recent graduates. The university is cancelling more than $700,000 in student loans for 220 recent graduates that were hit hard by the COVID-19 pandemic.
"Our students don't just come here for a quality college experience," said the university's President Tony 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."
The university’s statement says that the expenses are being covered via stimulus funds from the federal American Rescue Plan for COVID-19 relief.
"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, Delaware State University '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."