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Miles College Cancels $3.9M in Loans for Students Enrolled in Spring 2022

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The Birmingham Times

Miles College announced Tuesday that it would cancel $3.9 million in federal student loans for all full-time students enrolled in the Spring 2022 semester.

Earlier this year, the Fairfield college said it would clear $2.1 million in outstanding student balances and add $1.6 million to emergency grant aid

“Our students have worked very hard to continue to thrive in a culture that many of us have not had to endure while being in college,” said Bobbie Knight, Miles College President. “We will continue to deploy as many resources as possible to support our students and ensure their success during and after their time at Miles College.”

In April, The U.S. Department of Education discharged $1.6 billion of debt provided to historically black colleges and universities, including Miles College, to support institutions during the COVID pandemic.

“We understand how student loans are disproportionately impacting our students, and this is our first step in addressing the student loan crisis that many of our students face,” said Michael Johnson, Miles’s vice president of enrollment management, in a news release. “Eliminating student loans for our students will help narrow the wealth gap and have a long-term impact for our students’ futures.”

“Our HBCUs have long been on an uneven playing field, financially, as compared to many other postsecondary institutions,” Secretary of Education Miguel Cardona said at the time. “This relief will further support these mission-critical institutions and help to ensure they have more resources to educate and graduate students during the unprecedented COVID-19 pandemic.”