Student loan debt can be a huge burden to anyone who’s recently graduated college.  Paying bills, and raising a family can be challenging when you have student loan debt to pay back.  Over the weekend, graduating seniors at one East Texas college breathed a sigh of relief when they learned that an anonymous donor paid off all their student loans.

During the commencement ceremony at Wiley College, the school’s president Herman Felton Jr. announced, “You are debt-free.  You do not owe the college a penny” to over a hundred graduating seniors.   He went on to add, “You no longer have a balance.”  Both the students and their parents were shocked to learn that all of their student loan debt was completely paid off and that they didn’t owe the college any more money.

In a press release, Herman Felton Jr. stated that Wiley College does its best to keep college both affordable and accessible to all of its students.   While tuition for the average student is around $17,500, many of the school’s graduates still owe money after completing their degree program.  It is estimated that the graduating class of 2022, owed a total of around $300,000 in student loan debt.

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The school’s president also stated that the university is always communicating with donors, so that students can start their post-college lives with less debt.  Now that an anonymous donor has paid off over $300,000 in student loan debt, these graduates can start their careers without worrying about paying back any debts.

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