Several collegiate institutions throughout the country are leading efforts to help eliminate student debt and the latest school to follow suit is South Carolina State University. The Orangeburg-based HBCU recently announced it would cancel $9.8 million in debt for students.
The move will eliminate account balances for nearly 2,500 students. Aware of the exacerbated financial burdens stemming from the global health crisis coupled with the student debt disparities that disproportionately impact students at historically Black colleges and universities, the institution wanted to step up and provide relief for those in need. Many of the students who will receive the financial support have been unable to register for classes due to outstanding balances.
“We are committed to providing these students with a clear path forward so they can continue their college education and graduate without the burden of financial debt caused by circumstances beyond their control,” South Carolina State University Acting President Alexander Conyers said in a statement. “Our university was founded on the tenet of providing students with access to a quality affordable education. That’s exactly what we intend to do. No student should have to sit home because they can’t afford to pay their past due debt after having experienced the financial devastation caused by a global pandemic.” The debt was covered through aid received by the federal government.
News about South Carolina State University’s debt elimination effort comes nearly two months after Wilberforce University announced it would wipe away more than $375,000 of student debt. In May, Delaware State University pledged to cancel over $700,000 in student loans for over 220 students through the American Rescue Plan Act that was enacted by President Joe Biden and his administration.