According to U.S. News data, the average college student graduates with nearly thirty thousand dollars of debt.
Even worse, the average amount of college debt has skyrocketed twenty percent over the past decade alone.
Moreover, the current post-pandemic cost of living in the U.S. has forced college graduates to grapple with career outlook and compensation anxiety.
Amazingly, one graduating class in Texas has felt their anxieties melt away after receiving an anonymous donation to clear all outstanding balances.
The Wiley College Class of 2022, made up of over one hundred students, gathered to celebrate their commencement ceremony last week. Little did they know they were in for a major surprise.
“Students gathered on the Pemberton Sports Complex Field to participate in Wiley College’s 133rd Commencement Convocation and were surprised when they were informed that their balances were cleared,” the college explained in a press release.
Despite Wiley College’s commitment to making tuition accessible, one year of attendance still costs students seventeen thousand and five hundred dollars.
While this rate is below average out-of-state tuition rates in the U.S., it is still a hefty chunk of change– especially for students still wrestling with COVID-19 financial effects.
In total, the graduating class of 2022 owed about three hundred thousand dollars. Due to the anonymous donor, Wiley College believes that graduates have been set “on a continued path to success.”