With the money that was obtained from the stimulus packages, South Carolina State University came to the conclusion that it was not a huge concern if some of the students who attended the university did not finish paying off their student loans.
The only Historically Black College or University (HBCU) in the state of South Carolina made the announcement last week that it would renounce its claim to approximately $9.8 million in incoming student loan repayments from the accounts of 2,500 continuing students after having received the difference from the federal government.
This decision provides vital relief to students who are attempting to work them off in the difficult conditions of the post-pandemic economy.
“We are committed to providing these students with a clear path forward so that they can continue their college education and graduate without the burden of financial debt caused by circumstances beyond their control,” said acting SCSU President Alexander Conyers.
“We are committed to providing these students with a clear path forward so that they can continue their college education and graduate without the burden of financial debt.”
After the institution was able to gain access to approximately $4 million from the Trump CARES Act and another $5.8 million from the American Rescue Plan, which was passed under Biden’s administration, the accounts were able to be settled.
The majority of the accounts that were cleared belonged to students who either had very large overdue amounts or who had not registered for the following semester as a result of having outstanding financial obligations.
Romaun Myers, a junior at South Carolina State University, told the university press that “this is a wonderful weight I won’t have to carry.”
“I am the first person in my family to attend college, and I am also one of only a few boys on my mother’s side of the family.
It is imperative that I succeed in this endeavor so that I can provide for my family.
Other students commented that the announcement was “a really tremendous blessing,” that it made them “cry,” and that it would enable them to “realize their aspirations.”
According to what Leslie Young, a freshman, claimed in the press release, if the cancellation hadn’t taken place, she would have been had to skip the upcoming semester due to outstanding account balances.
Because of how important my education is to me, I had fallen into a profound despair. If I didn’t have it, I would have felt as if I were giving up on my dreams.
Now it is up to Leslie to go after them and bring them to justice.