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Rolling Jubilee Fund & Debt Collective Pays $1.7 million to write off debt

I know that’s true! Past and current students of the only all-female HBCU in North Carolina recently received an unexpected financial gift! As students struggled to pay tuition, housing and other fees, a group of activists called Debt Collective teamed up with the Rolling Jubilee Fund to wipe out the debt of 462 Bennett Belles.

According to MSN, when the collective initially contacted the university’s President Suzanne Walsh to pay $1.7 million in unpaid student funds, including tuition fees, unpaid parking tickets, etc. Overdue math or library fees, she thought they were joking. “People don’t contact and say we can help your students pay off their debt,” she said. In this case, she was wrong. Together with the Jubilee fund, the collective has eliminated all direct student debt owed to Bennett.

UNCF reported Bennett College’s statement on debt forgiveness.

“We understand that this is an especially difficult time and want to ease the burden on everyone. The debt that has been written off for these 462 individuals is a direct debt to the school,” the newspaper wrote. It continued, “These debts are different from federal and private student loans, which we have no ability to cancel because they are owned by the federal government.”

While student loans are not part of the debt relief, students seem to be satisfied with what has been cleared, mainly because they will have access to their academic transcripts. Reports indicate that Bennett has a policy of withholding academic transcripts for students whose accounts are past due. Alumnus, Suzette Trotmon, 34, has written off her $2,000 debt. She was also suspicious when a representative for Debt Collective called to share news that her debt had been paid.

“I asked him if he was lying,” she said. “It was more than I could ask for, especially on Wednesday when I was about to have dinner with my family. That’s good news. You don’t get that every day. ”

Bennett is currently revising its policy withholding transcripts for outstanding debts. Roommates, should there be more organization to help indebted college students?

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