Florida A&M becomes latest HBCU to forgive student debt, totaling over $16M, for 2020-21 school year

(CNN) — Florida A&M University students got a invited astonishment erstwhile the assemblage announced it would beryllium paying disconnected pupil fiscal balances for the 2020-2021 schoolhouse year.

President Larry Robinson broke the quality astatine the commencement for 2020 graduates Saturday.

“This is an denotation of our committedness to pupil occurrence and our anticipation that your clip connected the ‘Hill’ has been transformative arsenic you instrumentality connected the challenges of the day, spell retired and marque a difference,” Robinson told the graduates.

The historically Black assemblage utilized much than $16 cardinal of backing from the federal CARES Act, which was passed successful March 2020, to screen the fees, tuition and unpaid pupil relationship balances, according to a quality merchandise from the school.

“Clearing pupil relationship balances from the erstwhile schoolhouse twelvemonth was a mode of practicing our motto of ‘Excellence with Caring’ by supporting students and their families during the COVID-19 pandemic,” said William E. Hudson Jr., FAMU’s vice president for pupil affairs.

FAMU is not the lone historically Black assemblage oregon assemblage to springiness its students a fiscal interruption with its information from the CARES Act.

Recently, Clark Atlanta University announced plans to wide pupil relationship balances for outpouring 2020 done summertime 2021.

“Their world and nonrecreational aboriginal is important to maine and the full Clark Atlanta University family. We attraction astir students and privation to lighten their idiosyncratic and family’s fiscal load truthful they tin proceed their travel successful pursuing and attaining their acquisition and nonrecreational goals,” President George T. French Jr. said in a quality release.

Federal assistance besides allowed the assemblage to supply exigency fiscal aid, refund a prorated magnitude of lodging and repast charges for outpouring 2020, acquisition 4,000 laptops for each financially enrolled pupil and bargain hotspots for students with constricted oregon nary net entree successful their homes.

In May, Wilberforce University in Ohio announced it volition cancel pupil indebtedness for 2020 and 2021 graduates. The president said astatine the clip that the full magnitude of cleared indebtedness would beryllium much than $375,000.

Wilberforce covered the indebtedness with assorted scholarships arsenic good arsenic different funding, according to a quality release.