Florida A&M University, whose motto is “Excellence with Caring,” has allocated over $ 16 million to pay off outstanding student debts, President Larry Robinson said Saturday morning.
Robinson made the announcement towards the end of graduation ceremonies for 2020 graduate students at the School of Business & Industry, College of Pharmacy & Pharmaceutical Sciences / Institute of Public Health and School of Environment at Lawson Center.
It was one of four ceremonies held on Saturday and Sunday for Class 2020 graduates who were given the opportunity to attend a personal start after previously being denied due to the COVID pandemic.
“In the past year and a half, the university has provided over $ 16 million in student benefits and debt relief under federal CARES,” said Robinson. “Some of you are going to leave us with a lot of debts that some of your predecessors and I want you to understand how much, how important it is for us to enable you to get out in the world and achieve a much better start than you otherwise it could, and for those of you who stay with us, this will be a tremendous opportunity for you too. “
The number of students who were awarded the debt relief grant was not immediately available.
The American Rescue Plan Act provided nearly $ 40 billion in aid funds for higher education, including more than $ 2.2 billion for colleges and universities in Florida.
An additional $ 3 billion has been allocated to Historicly Black Colleges and Universities, Tribal Colleges and Universities, and other institutions that serve minorities.
William E. Hudson, Jr., vice president of student affairs, said the money was used to pay outstanding tuition fees and student fee balances in the 2020-2021 school year.
“Offsetting student balances from last school year was one way to implement our motto … by helping students and their families through the COVID-19 pandemic,” Hudson said in a press release Saturday morning. “It prevents them from having to take out loans to pay off their unpaid balance. It was a tough year for our students and their families. ”
FAMU’s action reflects similar steps being taken at universities across the country, including several historically black colleges and universities.
Among them is Clark Atlanta University, which last week said it was using the funds to cancel student debt from spring 2020 through summer 2021.
Virginia State University announced that it will use funding from the CARES Act to pay off student debts for tuition and fees during the period. Virginia Union University said it would reduce the debt of more than 1,300 students.
SBI graduate offers challenge: “Be excellent” and give something back to FAMU
Marcelia Freeman, a financial services executive for Clearlake Capital Group in Santa Monica, California, was the keynote speaker for the ceremonies on Saturday at 9:00 am and 3:00 pm.
Tallahassee national civil rights attorney Benjamin Crump holds starts on Sunday at 9 a.m. and 3 p.m.
Freeman is a 2005 graduate of FAMU School & Industry’s five-year MBA program, which earned a second MBA from Harvard in 2010.
Freeman emphasized to the graduates the importance of being prepared, having strong mentors, and being flexible when they step into the real world.
“Keep an eye on price, which can change over time,” said Freeman, who began her career in finance and investment at JP Morgan Chase.
There, she said, she had “access to people and ideas that our ancestors could never have imagined”.
“I want you to be excellent in every way every day,” she said.
While she was successful in her career, Williams said she also battled depression, corporate bias, and paid less than others at the table.
Williams works in investor relations and product management at Clearlake, a technology and industry-focused private equity firm “run by blacks”.
She also sits on the prestigious Council on Foreign Relations and sits on the board of the FAMU Foundation.
She said it is important to find balance in life and understand your self worth.
“Today I carry people, not loads,” she said. “I challenge you to find out what your superpowers are; the power to be the authentic you. “
Describing herself as “not a speaker but a truth-teller,” Williams concluded with a challenge to the graduates: give something back to FAMU.
“I hope you will consider supporting the Foundation (FAMU) before you leave campus,” she said. “I don’t care if you had to stand in line for financial help. It’s about those who come after you and pave a way for them. I’ll even send you up to $ 100,000 dollar for dollar. You can’t break my bag, so let’s see what you can do. “
More:“We need you now more than ever”: Thrasher of the FSU will lead his final inauguration
More:Ben Crump among three inaugural speakers at FAMU; Thrasher for graduates of FSU
More:Tom Joyner, Adora Obi Nweze receive honorary doctorates from FAMU
More:Campus Notes: Tallahassee Community College reserves $ 20 million in scholarships for students
Contact senior author Byron Dobson at bdobson@tallahassee.com or on Twitter @byrondobson.
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