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Louisiana State University is providing relief for thousands of its students who have amassed millions in debt over the course of the COVID-19 pandemic.
“In an effort to continue providing access to an LSU education, we have made the decision to clear all unpaid prior tuition and fee balances for LSU students who enrolled at any point during the COVID-19 pandemic period,” LSU Vice President for Enrollment Management Jose Aviles said in astatement.
“We are committed to ensuring that students have every opportunity to continue their educational pursuits,” he added. “Their dream is to walk across the stage and receive an LSU diploma, and our job is to do everything we can to make sure that happens.”
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The relief will come to students who owe money directly to LSU, the university said. In their statement, the school said it has provided more than $25 million in relief funds to students since the start of the pandemic in early 2020.
According toThe Advocate, the debt forgiveness will apply from the spring of 2020 to today. The loan forgiveness amount will average about $1,816, a spokesperson for LSU told the outlet.
Last week, the Biden administration announced it wasforgiving $5.8 billion in loansto borrowers who have total and permanent disabilities and have not been able to earn a significant income.
As of recent estimates, the collective student loan debt in the U.S. amounts to $1.7 trillion, according to theFederal Reserve.
Payments toward federal student loans have been frozen during the COVID-19 pandemic but will begin once again after Jan. 31, 2022, the White House announced earlier this month.
The decision, which the department called a “final extension,” comes after many U.S. lawmakers pressuredPresident Joe Bidento extend the moratorium, which began under the Trump administration.
source: people.com
