A group has bought and canceled student $10 million worth of debt from Morehouse College, part of an effort to relieve Americans from debt.
The activist group Debt Collective bought and canceled millions of dollars worth of student debt from Morehouse College, a historically black college, or HBCU.It's part of an effort to help African American graduates saddled with student loans get some relief, a spokesperson from the group told Newsweek on Monday, as borrowers begin making repayments on student loans this month.
Brewington said for African Americans, that debt may be double that of their White counterparts.The cancellation of debt at Atlanta-based Morehouse College concerns balances for those who were students up to the Fall of 2022, the Debt Collective said, and it will not go to their federal loans. But this removal of debt will give relief to a section of the American population that is hit hard by student debt, Brewington told Newsweek. 'They have a harder time paying it off.
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