Posted on 08/27/2021 8:44:17 AM PDT by devane617
The Covid-19 pandemic has disproportionately impacted the finances of many Black Americans, including student loan borrowers. Black college graduates owe an average of $25,000 more in student loan debt than white college grads, and over 50% of Black borrowers say their net worth is less than what they owe on student loans.
Now, a number of historically black colleges and universities (HBCUs) are stepping in to help alleviate that financial burden. With federal funding and private donations, these schools are wiping out current students’ account balances — including tuition and fees — and giving them a fresh start.
“We’re committing $5 million, assisting nearly 2,000 students with account balances,” said Clark Atlanta University President George T. French Jr. “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.”
Clark Atlanta University in Atlanta, Georgia, which has nearly 4,000 students in total, was one of the first HBCUs in the nation to use federal pandemic relief aid to clear balances for some of its students.
The school is not only cancelling outstanding tuition balances. Also, starting with the 2020 spring term through the current semester, “if you have a dining or a residence hall balance, it will cover that,” French said. “So whatever balances that you have that would restrict you from coming to school, we are removing those restrictions.”
“We are reinventing the college experience,” he said, “so that our students can graduate nearly debt free.”
Maybe they went to black schools because they couldn’t get into normal schools.
Maybe they owe more because they didn’t work during college, and being a professional negro isn’t a job skill set.
Here come the Gibmedats.
Most of my life my net worth was less than the mortgage balance on my how. do I deserve free money too? They made me buy a house! It’s not my fault! Gibmedats.
Royalty always gets free stuff—been that way since the days of the Pharoahs.
So all the money Trump got them is going to be wasted and then they will be asking for more.
They expect huge lifelong incomes, cars and homes too.
Of course they did. Those people are sooooo oppressed and kept down after all.
See? If you’re Black you don’t have to deal with silly things like paying your debts and obeying laws.
Mr. Taxpayer GIVES you a college education and you STILL hate him????
The Ivies began this years ago. For a middle-income family ($65k or under), tuition, room & board are free at Harvard. Financial aid is available at family incomes in excess of $100K.
You know what happened? Many students took out loans anyway. So that they could escape the “work requirement” part of financial aid (typically low to mid 4 figures a year), or to take that “educational” trip to the Alps at winter break, or the trip to Greece for “Anthropology,” etc.
Admittedly, even these students graduate with less debt than peers at non-Ivies, but the availability of no-credit student loans fuels demand for them, and not just to pay tuition.
All you guys who became mechanics, plumbers, factory workers... HAHAHAHAHAH CHUMPS.
I have urges to identify as black. Maybe it’s time to come out of my white closet and tell the world I identify as black.
Because the world needs more “black studies” graduates in government offices.
Federal Student loan guarantees are exactly the same as the 2000’s housing guarantees, Community Reinvestment Act and (Andrew Cuomo’s) push to get Fannie and Freddie to buy more junk loans
Its sold as a popular welfare program, is taken over quickly by scammers, seized upon by political race-mongers, and will be another very expensive failure when it blows up.
Since when does giving away somebody else's money become "reinventing the college experience"? Nobody ever "reinvented the college experience" for me or my kids.
Can I get my credit card debt forgiven because I self-identify as broke all the time? Have you seen prices lately?
Stupid, miseducated, and racist.
Awesome combo.
Are we still giving free phones and picking up the tab?
You were born too early for the glorious movement toward the expanding horizon of Socialism for the working class. /S
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