This college canceled student loans for all new graduates

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Surprisingly, this college has just canceled student loans for all of its new graduates.

Here’s what you need to know.

Student loans

Student Loan Cancellation for All Graduates

Wilberforce University, America’s oldest private university with a historic black history, surprised its alumni yesterday with one final gift from high school: the cancellation of a student loan. This student loan forgiveness comes one day after President Joe Biden refused to cancel the student loan from the last budget… At the end of the university’s opening, Wilberforce President Dr.Elfred Anthony Pinkard announced that the university would cancel all student loan arrears and fines owed to the school for both 2020 and 2021 grades.

“As these alumni begin their lives as responsible adults, we are honored to give them the opportunity to start over, easing their student debt to the university,” Pinkard said. The total amount of the student loan debt relief is approximately $ 375,000 and was funded by the United Negro College Fund, Inc., Jack and Jill, Inc. and other institutional funding sources. Wilberforce also received emergency financial aid for colleges and universities through the Cares Act, a $ 2.2 trillion stimulus package passed by Congress last year. According to the university, funds from the Cares Act helped financially help students who would not otherwise have been able to sign up for the fall classes.


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