Another College Cancels Student Debt

Another college has cancelled student debt.

Here’s what you need to know.

Student Debt

South Carolina State University will cancel $9.8 million of student debt for 2,500 students. South Carolina State, the state’s only public Historically Black College and University (HBCU), will “clear student account balances” for continuing students who were struggling financially due to the Covid-19 pandemic. Here’s how South Carolina State is paying for this student debt cancellation:

Cares Act: $4 million

American Rescue Plan: $5.8 million

“We are committed to providing these students with a clear path forward so they can continue their college education and graduate without the burden of financial debt caused by circumstances beyond their control,” Acting President Alexander Conyers said. “Our university was founded on the tenet of providing students with access to a quality affordable education. That’s exactly what we intend to do. No student should have to sit home because they can’t afford to pay their past due debt after having experienced the financial devastation caused by a global pandemic.”