UL repays student loans
Nearly 1,200 UL students have had their university loan debt canceled.
The university announced Tuesday that it was using federal COVID-19 funding to write off $ 2.7 million in student debt. According to a university press release, 1,175 students have benefited from the debt forgiveness deed. Payments only apply to debts owed directly to the university. They do not cover loans from banks or other private institutions.
“We care about students and their success,” said Dr DeWayne Bowie, UL vice president for enrollment management. “By eliminating the sales, we are providing students with much needed relief that will allow them to focus on their academic journeys and bring them closer to graduation. “
Students eligible for debt cancellation were enrolled on or after March 13, 2020, just days before the state was stranded amid the outbreak of the COVID-19 pandemic. The university cleared all the debts accumulated by these students between the spring 2020 semesters and the spring 2021 semesters. In addition, the university also cleared the unpaid balances of the students enrolled in the spring semester 2020 and having outstanding account balances. ‘a previous semester.
The university also helps other students pay their tuition fees and debts.
UL used other federal funds, the Higher Education Emergency Relief Fund, to provide direct grants to students enrolled in the 2021 summer semester. This money was disbursed in June to qualified undergraduate and graduate students. superiors. These payments ranged from $ 500 to $ 900 depending on the number of credit hours a student was enrolled in.
UL officials say they plan to issue similar payments to enrolled students in the upcoming fall and spring semesters. The university will provide more information to students at the start of each semester.