Lincoln University in Jefferson City, Missouri announced today that they will forgive $1.5 million in student balances.
According to the press release, the university is doing this by using institutional funding from the CARES Act to eliminate the debts approximately 930 students owe to the University from Spring 2020 through Summer 2021.
“Paying for college has long been a point of concern for far too many of our students, but even more so as we deal with the economic issues the pandemic has caused,” said Dr. John Moseley, Interim President of Lincoln University. “Our founders used the funds they had to provide the opportunity of education back in 1866. We are doing the same for our students in 2021, thanks to the CARES Act. The need for opportunity never expires and we are happy to be able to continue extend that opportunity to our students.”
The university says that it will automatically eliminate the balances from the five semesters, with no action required by the students.
“We recognize that finances are sometimes the obstacle that stands in the way of our students continuing with us from one semester to the next. Through eliminating these balances now, we are hopeful this will help us begin an upward trend in our enrollment by giving these students a fresh start,” Dr. John Moseley stated.