Graduates of Wiley College, a historically Black college in Marshall, Texas, received news that they could only dream of during their commencement ceremony on May 7 -- an anonymous donor paid off their balances.
The school announced the news on their website, and Wiley College President and CEO Herman J. Felton, Jr. delivered the update to over 100 students on Saturday, saying, "You are debt free, you do not owe the school a penny."
In the video posted to Facebook by Wiley College, students can be seen cheering and screaming for joy as the president announced that they all "no longer have a balance."
The school said in the news release that the estimated total balance for the class of 2022 is about $300,000.
They also noted that tuition has been lowered to about $17,500 in recent years, but acknowledged that many students will still have a remaining balance owed to the school after graduating.
“Our commitment to our students goes beyond their time while they are enrolled," Felton, Jr. said in the news release. "We are constantly communicating with donors to assist students in these ways so that they can begin their after-college experience with less debt.
"We are grateful for this anonymous donor who will assist the students in paying off their balances to Wiley College and help us achieve institutional goals of graduating our students with little to no debt."
There are roughly 1,400 students at Wiley College, which was founded in 1873 by Bishop Isaac Wiley. The school is affiliated with The United Methodist Church, and its 1935 debate team was the subject of the 2007 movie "The Great Debaters," directed by and starring Denzel Washington.
"Wiley College is a historically Black, liberal arts, residential, co-educational, baccalaureate degree-granting institution affiliated with The United Methodist Church," the news release said.
"Committed to the principle of educational access, the College serves traditional and non-traditional students from diverse backgrounds who have expressed a desire and potential for learning in a Christian environment. Home of 'The Great Debaters,' Wiley College has an intentional focus on social good and leadership, and its motto is 'Go forth Inspired.'"
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