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. (More student debt stories.)
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