An anonymous donor has paid almost $300,000 in student debt for graduates of Texas college…
The amount of student loan debt outstanding here in the U.S. currently sits at a whopping $1.75 trillion.
And most college students just can’t afford to pay the loans on top of living costs. Student debt truly has become a crisis, and for many, they will be paying off their debt their entire lives.
Roughly 44.7 million Americans have outstanding student loan debts, with 6.1 million reporting they have been late on their repayments.
But one lucky college class graduating this year will embark on their next journey into adult life totally free of any student debt…
Students graduating from Wiley college in East Texas were given the incredible news during their commencement ceremony that they were officially “debt-free” thanks to an anonymous donor.
Wiley College revealed the heartwarming gesture of goodwill in a news release, explaining that the students were gathered to celebrate their graduation when the school president made the announcement.
Over 100 students were gathered at the ceremony to accept their degree certificates, and none of them expected to have their student fees wiped.
It is definitely a first for the historically Black college, and the identity of the kind donor is still a mystery.
Herman J. Felton Jr., Wiley’s President, and CEO said in the news release: “We are constantly communicating with donors to assist students in these ways so that they can begin their after-college experience with less debt.”
The college also said that the estimated total for the balances owed to the college from this year’s students alone was about $300,000.
How incredible!