More than 100 students who graduated from Wiley College were informed at the graduation ceremony that one donor, who wanted to remain anonymous, paid off their balances.
Unfortunately, despite all the sense of achievement and the celebrations, graduating college also has a less happy side: the incoming loans and debts that don’t magically disappear.
However, thanks to this donor, these graduates’ debts will actually disappear!
One Very Special Graduation Ceremony for Students at Wiley College in Texas
The students of the class of 2022 at this historically black college in Marshall, Texas who are now debt-free, were ecstatic about the announcement, and the balance covered by the donor is said to be approximately $300,000.
The costs at this college, including the regular tuition, including room and board, are around $17,500 per student.
The officials’ words about the graduates being free of debt were met with tears of joy and cheering.
The graduates from Texas College didn’t just celebrate receiving their diplomas at the official ceremony, but also the fact that each and every one of them had no debts to pay off.
This was the 133rd graduation ceremony that took place at this college and the President & CEO Dr. Herman J. Felton Jr. informed the students of the anonymous donation.
A Huge Burden to Carry: Paying Off Student Debts
The pandemic has made it even harder for some students to pay off their education debts. Some graduates and their parents who also attended the ceremony were amazed by this news.
According to Felton, the commitment to their students extends over the period they’re enrolled in college. He added that they’re beyond grateful for the anonymous donor who will help the students pay off their debts.
HBCUs, especially the private ones like this college, relies on donations and alumni gifts, as well as donations from other graduates and donors because their graduates are likelier to experience a generational wealth gap.
As noted by Morehouse College president, David A. Thomas, even in families where the parents are graduates from college and have steady jobs, due to the later start, they can do less for the next generations like their children and nephews.
This effect is evident throughout communities and it’s more negative for the black community than for the white.
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