FAMU Wipes Out $16 Million In Student Debt At Summer Graduation

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Hundreds of college students at Florida A&M University (FAMU) got a great graduation present recently.

FAMU President Dr. Larry Robinson surprised 2020 graduates Saturday morning (July 31) by making this momentous announcement: the HBCU spent over $16 million dollars to clear students' unpaid fees, tuition, and balances during the 2020-2021 school year, according to NBC Miami.

"Over the last year and a half, the University has provided over $16 million in student support and debt relief as a result of the federal CARES Act," Robinson told grads in the university's auditorium. "I want you to understand how important it is to us allowing you to go out into the world and get off to a much better start than you might have otherwise."

The institution reportedly got more than $13 million in emergency funding from the Biden administration's CARES Act to help alleviate debt during the coronavirus pandemic, plus additional funds from the $1 billion dedicated to historically Black colleges and universities.

"We cleared balances y’all!" FAMU wrote in an Instagram post.

The HBCU is one of many colleges and universities across the nation canceling out student debt as the Biden administration moves to alleviate the financial burden on borrowers.

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