Northern Kentucky University is forgiving student debt that accumulated during the coronavirus pandemic as part of a $3 million equity initiative, university officials announced Thursday.
Any student outstanding balances from spring 2020 through the spring 2021 semester will be eliminated. The debt forgiveness does not apply to student loans. NKU spokesperson Atley Smedley said approximately 320 students will have their balances cleared, for a total of around $600,000 in debt forgiveness.
NKU, founded in 1968, serves over 16,000 students and employs more than 2,000 faculty and staff. The public university is located in Highland Heights.
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“The health crisis and ensuing recession affected so many of our students and their families,” NKU president Ashish Vaidya said in a Thursday news release. “Wiping out their account balance allows our students to continue their educational journey with a fresh start without worrying about what they owe the university. We know that earning a baccalaureate degree increases upward mobility and alleviates the demand for talent in our region, so we believe this investment aligns perfectly with our goals of student success and regional stewardship.”
In addition to the debt forgiveness, Vaidya said, the university is also providing $250 bookstore vouchers to all undergraduate students this fall to help cover the cost of course books and supplies.
“Nearly 50% of our students are the first in their families to attend college,” provost Matt Cecil said in the release. Cecil started in his new role as provost this month. “Many students face difficult choices during their path to a college degree, like choosing between buying food and essentials or course materials. The $250 voucher can make the difference between them staying in school or stopping out.”
Smedley said students won't need to pick up the voucher, but provide their name to the campus Barnes & Noble store – in person or online – to put the voucher towards their purchase.
Another $250,000 will go towards mental health support services and faculty, staff and student training. Altogether, the equity initiatives total $3 million and are made possible by federal coronavirus relief funds.
“Our campus community experienced a tumultuous time over the last year, and it has taken a toll on all of us. Starting those conversations can be difficult, let alone normalizing that many are struggling right now,” Eddie Howard, vice president for student affairs, said in the release. “The number of students in need of help continues to expand. This is an important commitment in connecting students with the support and resources they need while attaining their educational goals.”
Students will return to NKU's campus this fall, like most other universities in the region and across the country. Residence halls will be at capacity and campus events and activities will be back in full swing, with safety measures in place. Fall courses at NKU will be offered in-person, hybrid and online to provide greater flexibility for students.
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