Nearly $10M In Student Debt Erased For Former Morehouse Students, “No Strings Attached”

Morehouse College has collaborated with Debt Collective to eliminate outstanding debt for 2,777 students from the Fall 2022 term and earlier.

The notable HBCU transferred collections worth nearly $9.7 million to the Rolling Jubilee Fund for $125,000, allowing students to clear unpaid parking tickets, library fines, and unpaid tuition of up to $30,000, “no strings attached.” This enables students to access transcripts, receive diplomas, and pursue graduate education.

“Our nation is defaulting on the promise of education when we burden communities, especially Black HBCU graduates, with crushing amounts of student debt,” said Braxton Brewington, a spokesperson for the Debt Collective.  “This nearly $10M of student debt cancellation will put thousands of Black folks in a better position to be able to save for retirement, purchase a home, or start a small business.  President Biden has yet to make good on his campaign promise to eliminate all student debt held by HBCU graduates.  We’re doing our part, and it’s time Biden does his.  Forty-five million Americans need this relief.”

“We are an organization that grew out of Occupy Wall Street that sort of mimics the labor movement,” Brewington continued.  “Just like workers stand together to organize for better wages or better working conditions, we believe debtors can do the same.”

“The student debt crisis—I think we’re all aware of how significant it is,” Douglas said.  “How disproportionately it harms Black student borrowers.

“After Robert Smith paid off the debt of the entire graduating class in 2019, that led me to think that Morehouse needed to develop some curriculum around debt and democracy,” Douglas continued.” I think the fact that we’re talking about debt with the face value of almost $10 million, I think, just speaks to, you know, how significant the debt crisis at all levels has become.”