There are many reasons for that to cheer if you are a student at Virginia State University because HBCU just announced that all student balances will be settled thanks to the CARES act.
On Friday, the VSU announced that it would offset unpaid student credits for those enrolled during the pandemic with CARES (Coronavirus Aid, Relief, and Economic Security) Act dollars. Yahoo news Reports. The payment applies to all students who attended courses from March 13, 2020 to the spring semester of 2021.
The offset credits only apply to credits at the VSU and do not apply to third-party loans taken out by the students.
“We care about our students and their academic success, and we want to offer them the privilege of moving forward with zero balance,” said Donald Palm, Probst and senior vice president of academic and student affairs, in a press release.
“We believe that the relief from these balances will provide the much-needed relief that will allow our fellows to focus more on their academics and their degree.”
The bold move was taken in an effort to ensure that HBCU continued to provide access to transformative education, the school says. The VSU will settle all outstanding tuition and fee balances and pay out the remaining amounts owed to the university for students who attended courses in spring, summer, autumn, winter 2020 and spring 2021.
The university is expected to clear they announced the remaining balances after all federal, state, and private grants were applied.
University officials hailed CARES funding as “critical to helping students pursue their academic dreams” as COVID-19 “has severely impacted financial resources for thousands of families across the country.”
VSU spoken with WTVR and explained how the students are informed about the payment of their credit.
“Students with their funds paid out will receive an email stating this and a statement stating the current balance is zero,” they said. “That should happen within the next seven days.”
It’s a good time to be a VSU student. Let’s see if other HBCUs and schools across the country follow suit.