NEW ORLEANS (AP) - Three historically black universities in New Orleans and one in Mississippi will see about $330 million in post-Katrina debt owed to the federal government cleared under a provision in a congressional budget deal signed by President Donald Trump.
Dillard University, Xavier University and Southern University at New Orleans and Tougaloo College, just north of Jackson, Mississippi, borrowed the money in 2007 from the federal Department of Education as they struggled to deal with crippling blows dealt by Hurricane Katrina.
The New Orleans Advocate reports little of the loans had been paid back in the past decade, as most of the universities tried to regain their footing and boost enrollment. Payments were suspended in 2013, but the five-year loan forbearance period was set to expire in April.
Information from: The New Orleans Advocate, http://www.neworleansadvocate.com
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