Coppin State University on Monday announced its Student Debt Relief Initiative, which will clear about $1 million in student balances.
The initiative, which is federally funded by the 2021 American Rescue Plan Act, is available to students who were enrolled during fall 2020 and spring 2021 semesters, comes as a result of the COVID-19 pandemic. To date, several HBCUs and other institutions have implemented similar initiatives.
In addition to the balance forgiveness, the university will provide a $1,200 credit to every student, current and incoming, enrolled in the fall 2021 semester. The fall credit is just above 50% of in-state tuition and will help keep students enrolled as well incentivize others to enroll, university officials said.
The pandemic caused a global crisis that disrupted educational systems across the globe. Included in the United States’ trillion-dollar American Rescue Plan signed March 11 was $350 billion toward state and local funds. Of these state and local funds, $39.6 billion is budgeted for higher education institutions around the country.
Coppin State University offers 53 majors that include graduate and doctoral programs.