Over 1100 UL Lafayette students just got $2.7M in college debt canceled
LAFAYETTE, La. (KLFY) The University of Louisiana at Lafayette is using federal COVID-19 relief money to eliminate student debt for more than 1100 students who attended the university over the past year.
In total, $2.7 million in student debt has been erased for qualified undergraduate and graduate students, according to Dr. DeWayne Bowie, UL Lafayette’s vice president for Enrollment Management.
The University eliminated debts incurred between the Spring 2020 and Spring 2021 semesters, Bowie said.
If a student enrolled in Spring 2020 had an account balance from a previous semester, it was forgiven as well, he said.
“By eliminating balances, we’re providing students with much-needed relief that will enable them to focus on their academic journeys and move them closer to completing their degrees," Bowie said.
He said the debt forgiveness applied only to balances students owed to UL Lafayette and not to any private loans.
Qualified undergraduate and graduate students received between $500 and $900, he said.
The amounts varied depending on the number of credit hours they were enrolled.
The University plans to issue similar payments to registered students in the Fall 2021 and Spring 2022 semesters as well, Bowie said.
More information can be found here