FAIRFIELD, Ala. – Miles College will subsidize $3.9 million of federal student loans for a full-time students enrolled in the Spring 2022 academic semester with funds received from the Higher Education Emergency Fund (HEERF).
Instead of offering student direct federal loans, the College will alleviate some of the financial burdens of repaying students loans post-graduation by providing funding to minimize the number of students loans for its students.
“Our students have worked very hard to continue to thrive in a culture that many of us have not had to endure while being in college,” said Bobbie Knight, Miles College President. “We will continue to deploy as many resources as possible to support our students and ensure their success during and after their time at Miles College.”
The investment in Miles College reinforces the College’s commitment earlier this year when the College allocated funding to clear over $2.1 million in outstanding student balances.
“We understand how student loans are disproportionately impacting our students, and this is our first step in addressing the student loan crisis that many of our students face,” said Michael Johnson, Miles College Vice President of Enrollment Management. “Eliminating student loans for our students will help narrow the wealth gap and have a long-term impact on our students’ futures.”
The decision is the College’s first step to support their students navigating the student loan debt crisis. College officials are exploring opportunities to sustain these efforts with corporate and community partners.
About Miles College
Miles College, founded in 1898, is a premier liberal arts institution located in metropolitan Birmingham within the corporate limits of the City of Fairfield. The noble founders of the institution saw educated leadership as the paramount need in the black community. Miles, which is fully accredited by the Commission on Colleges of the Southern Association of Colleges and Schools and accredited by Commission on Colleges for the awarding of Baccalaureate Degrees, is the only four-year institution in historic Birmingham Alabama designated as a member of Historically Black Colleges and Universities (HBCU).