Texas college students graduate debt-free after anonymous donor repays their school loans
Students at Wiley College in Marshall, Texas not only graduated on May 7, but also received full student loan forgiveness after an anonymous donor paid off their debts.
At the commencement ceremony on Saturday, more than 100 graduates received the wonderful news from the college’s president and CEO, Dr. Herman J. Felton, Jr., according to a school press release.
The anonymous donor paid off approximately $300,000 in student loan debt.
“The anonymous gift puts graduates on the path to success and helps Wiley College reinforce its commitment to providing an exceptional education at an affordable price,” the statement continued.
“Our commitment to our students goes beyond their time during enrollment. We are constantly communicating with donors to help students in these ways so they can begin their post-college experience with less debt. We are grateful to this anonymous donor who helps students pay their balances at Wiley College and helps us achieve our students’ institutional graduation goals with little or no debt,” Herman said.
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Wiley College has been working to lower its tuition to accommodate students who may be struggling financially, but the COVID-19 pandemic has exacerbated their ability to keep up with their loans, according to the school.
“The announcement of the cleared balances for graduates came as a welcome surprise as students and parents were demonstrative in the audience when they heard the news,” the press release added.
Wiley College was founded in 1873 and is a historically black college, according to the school’s website.
This story was reported in Los Angeles.