University Uses COVID Relief to Cancel Student Debt

Delaware State just nuked $700K in loans
By Josh Gardner,  Newser Staff
Posted May 16, 2021 9:30 AM CDT
Historically Black University Cancels $700K in Student Debt
Astimulus check issued by the IRS to help combat the adverse economic effects of the COVID-19 outbreak   (AP Photo/Eric Gay, File)

(Newser) – An historically Black university has canceled $730,655 in student debt. Per CNN, Delaware State University is issuing relief for recent graduates who've been hit particularly hard due to the pandemic and is doing so with the help of federal dollars provided through American Rescue Plan for COVID-19 relief. School officials said Wednesday that around 220 graduates will qualify, with each receiving on average $3,276 in relief, per Axios.

In a statement, university President Tony Allen said the significant step was taken in order to continue furthering the school's mission to help students "change the economic trajectory" of their lives. And that means not starting them out in their careers already burdened with debt. While keeping the university affordable for many, Allen also noted DSU hasn't raised tuition in six years, gives every new student an iPad or laptop, and is in the process of replacing physical textbooks with more affordable digital versions. (Read more student debt stories.)

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