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HBCU cancels $730k in student debt using COVID-19 relief funds

Chuck Schumer, Elizabeth Warren, Ayanna Pressley, Ilhan Omar
Rep. Ilhan Omar, D-Minn., second from left, and Sen. Elizabeth Warren, D-Mass., second from right, watch as Rep. Ayanna Pressley, D-Mass., right, takes off her hat after Senate Majority Leader Sen. Chuck Schumer of N.Y., left, looks for her during a news conference on Capitol Hill in Washington, Thursday, Feb. 4, 2021, about plans to reintroduce a resolution to call on President Biden to take executive action to cancel up to $50,000 in debt for federal student loan borrowers. (AP Photo/Andrew Harnik)

The light at the end of the tunnel is shining bright for these deserving students attending Delaware State University.

Delaware State University recently announced they were canceling more that $730,000 in debt for recent graduates who experienced financial difficulties during the pandemic.

The historic Black public university will be giving more than 220 students an average of $3,276 to help with student debt.

The money is coming from American Rescue Plan, the nearly $2 trillion relief plan passed earlier this year.

“Too many graduates across the country will leave their schools burdened by debt, making it difficult for them to to rent an apartment, covering moving costs, or otherwise prepare for their new careers or graduate school.

“We all felt it was essential to do our part” says Antonio Boyle, Vice President for Strategic Enrollment Management.

Canceling or forgiving student debt has come up several times since President Biden was elected.

Biden has asked the Department of Education to look into the idea, and their recommendation has not been made public at this time.