HBCU’s cancel student debts
2021 was also a year that brought signs of relief to thousands of students who attend historically Black colleges and universities (HBCUs) across the US. More than 20 HBCU’s are canceling student debts, thanks to funding and relief made available through the Higher Education Emergency Relief federal pandemic funds.
While different institutions of higher learning are choosing to spend the more than $2.6 billion in relief money differently, these HBCU’s, including Howard University, South Carolina State, Wilberforce University, Clark Atlanta, and Philander Smith College, are on a debt forgiveness path, relieving struggling parents and these students of burdensome student debt.
Student loan debt impacts young Blacks far more than their White counterparts and deepens wealth disparity and economic inequality. The debt cancellation effort by these institutions has gone over well with students, especially in alleviating housing and food costs for thousands of students, and is a precursor to President Biden’s plans to cancel billion in student loans.
