The graduation ceremony in itself is an emotional day for each and every student, isn't it? After all, it marks the end of our college journey and takes us toward the next step of our career.?But for some college students in the Texas state of the USA, their graduation day turned out to be extra special.?
During their commencement ceremony earlier this month, over 100 graduates at Wiley College in Marshall, Texas, found out that an anonymous donor had paid off their class¡¯ student loans!
Herman J. Felton Jr., who is the President and CEO of Wiley College, informed the graduating class of 2022 of this at their graduation ceremony (7th May 2022).
The college had also posted a clip of the special moment on its Twitter account.
The tweet by the college mentioned ¡°You are debt-free; you do not owe the college a penny,¡± President Felton said to cheers and applause. ¡°If you have a balance, you had a balance. You no longer have a balance.¡±
The class of 2022 had reportedly owed a balance totalling $300,000, as per a report in Huffpost.
CEO and President Felton also talked about the importance of helping students with mounting college costs in a Wiley College press release.
¡°Our commitment to our students goes beyond their time while they are enrolled,¡± college CEO Felton said. ¡°We are constantly communicating with donors to assist students in these ways so that they can begin their after-college experience with less debt.¡±
Felton said he¡¯s grateful for the anonymous donor, whose donation will help the college ¡°achieve institutional goals of graduating our students with little to no debt.¡±
Prior to the anonymous donation to Wiley College, philanthropist MacKenzie Scott had donated $20 million to Morehouse College in 2020, and billionaire Robert Smith had gifted $34 million to the graduating class of Morehouse in 2019.
All this comes amidst the US President Joe Biden recently saying that his administration is weeks away from a decision on student loan forgiveness.
¡°I am considering dealing with some debt reduction. I am not considering $50,000 in debt reduction,¡± Biden said in response to questions from reporters about how much debt he would cancel per borrower. ¡°I¡¯m in the process of taking a hard look at whether or not there will be additional debt forgiveness, and I¡¯ll have an answer on that in the next couple of weeks.¡±
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