Almost 3,000 students at Morehouse College had their student debts canceled. According to a news release, the HBCU partnered with Debt Collective, the first union of debtors to cancel pending debt in the nation, to wipe clean collections for the Fall 2022 term and prior for 2,777 students.
Morehouse transferred the collections to the Rolling Jubilee Fund, a sister organization of Debt Collective’s sister organization, for $125,000 — or a little more than one penny on the dollar. The “no strings attached” gift was used for ”unpaid parking tickets, library fines, and even unpaid tuition totaling up to $30,000.”
Because of the debt being cleared, students can now access their transcripts, receive their diplomas, and continue their education at the graduate level.