University cancels US$700,000 in debt for graduates

Delaware State University (DSU) in the United States is cancelling more than US$700,000 in student loans for recent graduates hit hard by the COVID-19 pandemic, writes Melissa Alonso for CNN.

DSU will cancel US$730,655 for more than 220 people, the university announced this month. “The average eligible student will qualify for about US$3,276 in debt relief,” according to the statement from the historically black public university.

“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 enrolment management. “While we know our efforts won’t help with all of their obligations, we all felt it was essential to do our part.”
Full report on the CNN site