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Robert F. Smith, the billionaire businessman that famously paid off the student loan debt for Morehouse students in 2020, is back at it again for other HBCU students in need.
A new partnership between Black billionaire Robert F. Smith’s nonprofit Student Freedom Initiative and Prudential Financial is sending help to HBCU students both literally and figuratively.
Black students, on average, owe thousands more than their white peers when they graduate, and the disparity only grows with time. Philanthropists want to change that.
The newly-appointed head of the Education Department's Office of Federal Student Aid is leading a major transformation of the aid system and vowing to hold the contractors involved in the process accountable for their treatment of borrowers.
The Biden administration's selection of Richard Cordray, the first director of the Consumer Financial Protection Bureau, to head the Office of Federal Student Aid signals an interest in ramping up oversight of its contractors.