With Black college graduates owing an average of $25,000 more in student loan debt than their white counterparts, many historically Black colleges and universities (HBCUs) have begun using federal funds to erase their students’ obligations.
“We’re committing $5 million, assisting nearly 2,000 students with account balances,” said Clark Atlanta University President George French Jr., CNBC reported. “The impetus, of course, was to help our students — and to make sure from a business, from a financial implication posture to make sure that we reduce our student debt, so that they could matriculate and graduate.”
More than 20 HBCUs have cleared all or part of money owed for tuition and fees, largely by using federal pandemic relief funds and donations from private benefactors, CNBC reported.

WI Guest Author

This correspondent is a guest contributor to The Washington Informer.

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