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Anonymous Donor Eliminates $300,000 Worth of Debt for Graduating Class at Texas HBCU

Photo courtesy of Wiley College
While current and former college students across the nation await word from President Biden's administration on what, if any, student loan relief will be provided by the government under the man who at the very least promised to forgive $10,000 per borrower while on the campaign trail — an anonymous donor eliminated the concern for a group of recent Texas graduates over the weekend.

During Wiley College's commencement ceremony Saturday, the school's president and CEO, Dr. Herman J. Felton Jr., announced that the graduates remaining balances owed to the historically Black school in East Texas had been cleared.

"You are debt-free. You do not owe the college a penny." Felton Jr. said as the crowd of over 100 students and their families cheered his proclamation.

He continued, "If you have a balance, you had a balance," Felton Jr. said. "You no longer have a balance."

According to a press release from the HBCU, the financial head-start for its grads was made possible by an anonymous donor. It cleared an estimated $300,000 worth of debt owed to the school, whose costs to attend are around $17,500 (tuition, fees, and room and board), by the class of 2022.

"The anonymous gift sets graduates on a continued path to success and allows Wiley College to strengthen its commitment to providing an affordable exceptional education," Felton Jr. said in the release.

He added, "Our commitment to our students goes beyond their time while they are enrolled. We are constantly communicating with donors to assist students in these ways so that they can begin their after-college experience with less debt. We are grateful for this anonymous donor who will assist the students in paying off their balances to Wiley College and help us achieve institutional goals of graduating our students with little to no debt."

1 comment:

  1. ... why is everyone ignoring that literally billions of dollars of student debt have been forgiven in the last 2 years? Why? Like "NOT ALL OF IT HAS BEEN ELIMINATED"... C'mon, it's a fucking *process*.


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