Delaware State University (DSU) has arranged to cancel $730,000 in student debt by using a portion of American Rescue Plan Act (ARPA) funds received by the school.
The announcement on Wednesday stated that the institution will allot $730,655 to cover average student debt of $3,276 for more than 200 eligible seniors.
DSU President Tony Allen remarked in a statement that the school’s mission to make student debt more manageable to students fueled the initiative.
“Our students don’t just come here for a quality college experience. Most are trying to change the economic trajectory of their lives for themselves, their families, and their communities. Our responsibility is to do everything we can to put them on the path,” he wrote.
While ARPA funds are primarily used to cover costs relating to COVID-19, DSU spokesperson Carlos Holmes explained that the university decided to help students “defray the costs that they’re leaving here with.”
“This resolved some financial debt problems for a lot of students that were able to walk across the stage last Friday or Saturday and have a sense that they have completed this chapter of their academic journey,” he told Delaware Public Media.
Peni Kimani, a DSU graduating senior, felt relief knowing that she has the chance to pay off her college degree, especially since she’s geared to enroll in an aviation program to fulfill her dreams of becoming an airline pilot.
“I am so very fortunate that I got that money to help with the loans because I truly think it’s going to give me a leading edge amongst my peers,” the student also told the media news service.