Central State University Foundation announces $175,000 gift to clear graduates’ Institutional debt
Posted
May 21 2024
Above: Central State University graduates celebrate with roaring applause after the Central State University Foundation announced a $175,000 gift to clear their Institutional debt.
At the
Commencement Ceremony on May 11, the Central State University Foundation made a groundbreaking announcement that thrilled the assembly of graduates and their families, leading to roaring applause at William Patrick McPherson Memorial Stadium.
In an extraordinary act of generosity, the foundation declared a donation of $175,000 to eliminate all outstanding Institutional debt for this year's traditional graduating class.
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Judge Michael Nelson of the Central State University Foundation Board of Trustees announces the elimination of Institutional debt for graduates in the Class of 2024.
“The support from the Foundation will benefit many graduates who strived for an education, but continually faced economic hardship,” Interim Central State University President Dr. Alex Johnson said. “This burden is now lifted, in part, due to the generosity of individuals who have assembled to support Central State University and its students.”
The unprecedented gift ensures that each graduate will leave Central State University without owing any balance to the Institution. The initiative targets debt held directly by Central State, thus allowing graduates to commence their post-collegiate journey with a cleaner financial slate. The relief does not extend to federal student aid debts.
Dr. Derek Anderson, president of the CSU Foundation Board of Trustees, expressed his pride in the board's decision.
"We believe in the immense potential of our graduates and are thrilled to provide them with this foundation as they embark on their next chapters," he said.
Although unable to attend the ceremony, his sentiments were warmly conveyed by Judge Michael Nelson, who presented the award on behalf of the foundation.
Nelson, addressing the graduates, highlighted the significance of this gift: "Today marks not just the culmination of your hard work and dedication, but also the beginning of a promising new phase. The foundation is honored to play a part in ensuring you step into this phase unencumbered by Institutional debt."
Central State President-elect Dr. Morakinyo Kuti said students will use their career opportunities to improve their lives.
“The Foundation’s generosity allows the latest Centralians to grow their wealth by reducing debt from their investment portfolios,” he said.
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Graduates react with gratitude to the Central State University Foundation.
The Central State University Foundation's contribution underscores its commitment to supporting students not only academically but also financially. By alleviating the burden of debt, the foundation aims to empower graduates to pursue further education, career advancement, and personal growth without the immediate financial pressures that come with Institutional debt.
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In 2020, Kent State University President Todd Diacon announced to a group of high school juniors and their families that Kent State would cover four years of tuition costs and one year of room and board. For the LeBron James Family Foundation’s (LJFF) first I PROMISE class, the hard work these students had put in since third grade was paying off. Anthony Claytor of Akron, Ohio, can be seen among the sea of students gathered in the Kent Student Center Kiva that day four years ago. He remembers the day vividly, and he is now the first of this class to graduate from Kent State, having celebrated his commencement this May 2024.
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