NEW YORK (1010 WINS) — The City University of New York announced Wednesday it will use federal stimulus money to pay up to $125 million in unpaid student debt as a result of the COVID-19 pandemic.
"The CUNY Comeback Program," implemented in coordination with Gov. Andrew Cuomo's administration, is touted by the public university as one of the largest student aid forgiveness programs in the country and could affect tens of thousands of students.
Students eligible for the program could include those who graduated from CUNY since the March 13, 2020, emergency declaration was ordered and those who have outstanding debts from Spring 2020 and Spring 2021.
Those who are determined to face hardships by the university, students who qualify for Pell Grants, as well as students who are eligible for the state's Tuition Assistance Program but did not meet the eligibility requirements for the highest award, could also fall into needed criteria.
Students who also have a debt of $100 or less per the Spring 2020, Summer 2020, Fall 2020 and Spring 2021 semesters may also be included in the automatic program.
“The COVID-19 pandemic has caused hardships in the lives of so many New Yorkers, and our students were among those most impacted,” Cuomo said in a statement. “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.”
Chancellor Félix V. Matos Rodríguez praised the program that will benefit students who faced "immeasurable hardships."
“This compassionate action will allow CUNY students and recent graduates to move ahead in pursuit of their educational and career objectives without the specter of unpaid tuition and fees," he said. "This landmark measure will also enhance CUNY’s important contributions to New York’s economic recovery.”
The board of trustees approved the aid during a July 6 meeting. The final numbers of those expected affected is not yet known, but the university expects it could affect up to 50,000 students.