In October Rolling Jubilee, a nonprofit group that erases debt, offered to retire $2 million to $5 million in student debt, but late last month, Rutgers declined the offer.
For his last semester at Rutgers in 2018, Reet Starwind took a semester abroad, ending with a two-and-a-half-week visit to Ireland. Because his mother worked in the Rutgers system, he received free tuition and had not realized there were any extra charges for the trip.
University spokeswoman Dory Devlin said various teams, including Finance, reviewed the proposal but determined it would be “an asset sale without precedent at other major public or private universities.” Taylor described the meeting as very positive, and school officials said they would respond to the offer in two weeks. She said she explained that the $50,000 offered was part of a large donation from an anonymous donor who wanted to reduce personal debt in many parts of society during the pandemic and that the donor wanted the money spent by the end of March.
On March 21, Taylor received an e-mail from Rutgers saying the proposed arrangement would be considered a sale of assets rather than a philanthropic interaction and that the university would not be pursuing it further. The Consumer Financial Protection Bureau said such transcript holds could force students to take duplicate courses or stop attending college altogether.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Meta’s Reality Labs posts $2.9B loss: ‘I recognize it’s expensive,’ says ZuckMeta posted its Q1 2022 earnings on Wednesday, with its Metaverse-focused Reality Labs division posting increased losses. 'I recognize it's expensive to build this,' said CEO Mark Zuckerberg.
Read more »
Capital Region Council awarded $2.2M grant in FEMA funds to attract more firefightersThe goal is to recruit and train 200 firefighters within the central Pennsylvania region over a four-year period.
Read more »
Nearly $2 Million Spent On Recreational Marijuana First Day It Was Legal In New JerseyNew Jersey officials say more than 12,000 people spent almost $2 million on cannabis products last Thursday, the first day recreational sales were legal in the state.
Read more »
Dem Lawmaker: Biden in Meeting Suggests He'll Ease Student Loan BurdenThe White House was notably more measured about Biden’s stance, but such moves would be a boon to many of the 43 million Americans carrying student loans.
Read more »
Romney rips Biden for considering student loan forgiveness, calling it a ‘bribe’Utah Sen. Mitt Romney ripped the Biden administration for reportedly considering canceling billions in student loan debt.
Read more »
GOP Senators Unveil Bill to Bar Biden From Canceling Student DebtJust after news broke of Biden’s plan to cancel some student debt, Republicans introduced a bill that would explicitly bar him from doing so and limit his ability to extend a student debt payment pause.
Read more »