College Erases Millions in Student Debt

“What a joy to be able to share some good news with these students.”

“Thank you!”

“Bless you!”

Students exclaimed these phrases to me multiple times in the summer of 2021.

Last April, our Financial Wellness team did a preliminary outreach to students to see what barriers stopped them from re-enrolling at Madison College to finish their education.

Students had several reasons in common for being unable to re-enroll. Many could not pay their outstanding balances.

A considerable number had lost income due to reduced work hours or closed workplaces. Some had been forced to start supporting parents and siblings. So many faced stress-related health issues and difficulty adjusting to online learning—their own and their children’s.

And of course, many were grieving family members who passed away unexpectedly from COVID.

What a joy to be able to share some good news with these students …

Our team followed up with them at the end of June to let them know that their outstanding tuition balances would be forgiven through the American Rescue Plan Act at Madison College.

The students’ responses ranged from excited to happy to grateful! One said she had been paying little by little to get back into school. Now the debt forgiveness would get their plans back on track.

Another screamed in my ear, “This means I can go back to school!”

In total, we erased $4 million of debt for students who attended between spring 2020 and spring 2021.

–Written by Mary Johnson, Financial Wellness and Support Coordinator