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HBCUs Increasingly Canceling Student Loan Debt

Saint Augustine’s University in Raleigh, North Carolina, now lists among a growing number of historically Black colleges and universities that are canceling student debt due to the impact of COVID-19.

So far, with more than 20 historically Black colleges and universities have made headlines for clearing student debt using funds from the Coronavirus Aid, Relief and Economic Security (CARES) Act, the schools have cleared out a combined total of more than $25 million in student debt, CNN reported.

“These institutions — though underfunded — punch above their weight in terms of outcome, production and impact,” said Lodriguez Murray, senior vice president of public policy and government affairs for the United Negro College Fund, CNN reported.

 

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