University cancels $ 700,000 debt for graduates affected by pandemic

By Melissa Alonso, CNN

(CNN) – Delaware State University is canceling more than $ 700,000 in student loans for young graduates hard hit by the Covid-19 pandemic.

DSU will set aside $ 730,655 for more than 220 people, the school announced this week.

“The average eligible student will be entitled to approximately $ 3,276 in debt relief,” according to the statement from the historically black public university.

“Too many graduates across the country will be leaving their debt-ridden schools, making it difficult for them to rent an apartment, cover moving expenses, or otherwise prepare for their new career or higher education. Said Antonio Boyle, DSU vice president for enrollment management strategy. “While we know that our efforts will not help them meet all of their obligations, we all felt it was essential to do our part.

The DSU pays the expenses through the U.S. federal bailout for COVID-19 relief, university officials said in a statement Wednesday.

“Our students don’t just come here for a great college experience,” said University President Tony Allen. “Most are trying to change the economic trajectory of their lives for themselves, their families and their communities. Our responsibility is to do whatever we can to put them on the right path.”

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