CUNY to forgive up to $125 million in student debt using federal stimulus funds

Michael Elsen-Rooney, New York Daily News
·2 min read
CUNY to forgive up to $125 million in student debt using federal stimulus funds

CUNY will use federal stimulus cash to forgive up to $125 million in student tuition and fees during the pandemic, university officials announced Wednesday.

The program will automatically wipe away any outstanding tuition and fees that qualifying City University of New York students owed between March 2020 and this past May. Officials said the program could reach up to 50,000 students, and called it the largest effort of its kind in the country.

“The COVID-19 pandemic has caused hardships in the lives of so many New Yorkers, and our students were among those most impacted,” said Gov. Cuomo. “This landmark new program eliminates millions of dollars in unpaid debt, providing much-needed relief to tens of thousands of CUNY students as they work to get back on their feet after the pandemic and plan for their futures.”

The program will automatically forgive any outstanding fees for students with demonstrated financial need — including those who qualify for federal Pell grants and the state Tuition Assistance Program.

The program will also forgive any remaining tuition debt for CUNY students who graduated during the pandemic.

Students who owe money but don’t qualify for the forgiveness program based on financial need can still apply if they can show they suffered an economic setback during the pandemic, including healthcare costs or the loss of a job.

Qualifying students who already paid their full pandemic tuition and fees will get $200 and may be eligible for additional federal grants in the fall, university officials said.

CUNY tuition for full-time students at four-year colleges is roughly $7,000 a year for residents and $18,600 a year for out-of-state students. More than two-thirds of CUNY students pay no tuition because of grants and assistance. Fees are usually between $200 and $300 a semester for full-time students.

CUNY officials say the average student debt balance is about $2,000. The debt forgiveness can’t be used to pay off private loans.