University of Texas relieves nearly $5 million in student debt
The University of Texas has forgiven nearly $5 million in student debt this year using federal COVID-19 relief funds.
UT used part of the money it received from the third round of funding for the federal Higher Education Emergency Relief Fund, as part of the $1.9 trillion American Rescue Plan approved by Congress in March. The university discharged the debt of 8,144 students, with an average amount discharged of about $610 per student.
“Discharge of the past due debts means all financial bars have been cleared,” said Kathleen Harrison, assistant director of communications for the office of executive vice president and provost. “By eliminating financial bars generated from prior balances, enrollment disruption is reduced as students work to complete their degrees.”
The relief fund was established by the Coronavirus Aid, Relief, and Economic Security Act in March 2020 in response to financial concerns affecting colleges and universities during the COVID-19 pandemic.
Read more: https://www.statesman.com/story/news/2021/12/18/ut-relieves-nearly-5-million-student-debt/8917792002/
