Fayetteville State University has once again settled outstanding student balances! Learn more in the FSU Release below.
With average student debt nationwide exceeding $37,000 in 2022, financial constraints can mean the difference between a student continuing their education and graduating — or not. On the heels of our nation celebrating Independence Day, however, Fayetteville State University leaders are removing financial barriers to ensure students continue their progress toward a degree.
For the second year in a row, FSU is applying pandemic relief funding to clear outstanding balances for students who attended college from summer 2021 through spring 2022. Last summer, FSU applied 1,629 $228 to clear the balances of 1,178 students during this time, allowing them to return to school this fall without worrying about additional debt. Combining this summer (2021 and 2022), FSU has cleared over $3,283,187 in total outstanding balances for 2,367 students.
The University has applied for funding from the Higher Education Emergency Relief Fund III (HEERF III), part of the U.S. bailout enacted on March 11, 2021.
“Financial barriers are the number one hurdle our students must overcome to achieve their dream of earning a college degree,” said FSU Chancellor Darrell T. Allison. “We will do everything we can to help lower our costs for our students, making their path to a degree more accessible. Helping our students achieve financial independence in such a tangible and meaningful way is not only rewarding, but also the right thing to do.
FSU also plays an important role in lowering the costs of higher education and making college education even more accessible as NC Promise school. Starting in Fall 2022, not only will returning students have zero balances on their accounts, but tuition will also be reduced to $500 for North Carolina students and $2,500 for US students. out of state. This translates to a savings of nearly $2,000 for in-state students and nearly $10,000 for out-of-state students in tuition costs for the academic year alone. Additionally, for qualified military students (Veterans, Active Duty, Spouse, and Dependent), tuition will be free.
“Access and affordability are critical to student success and are among FSU’s top priorities,” said Jennifer K. Addison, Comptroller in FSU’s Office of Business and Finance. “Our ability to resolve these past balances is a game-changer for our students – leveraging this funding to meet their needs is a major step in ensuring our students continue their education and graduate.”