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Wiley College graduates found out that an anonymous donor will pay off their debts to the college in a surprise announcement at their graduation ceremony Saturday.

Herman J. Felton Jr., president and CEO of Wiley College, shared the news with the more than 100 graduates present.

“You do not owe the college a penny,” Felton told the crowd at the historically Black college in Texas. “If you have a balance, you had a balance. You no longer have a balance.”

Outstanding debts to the college owed by the Class of 2022 are estimated to come out to $300,000, according to a press release from the college.

The move follows a series of similar announcements at HBCUs and other higher ed institutions last year as administrators sought to reduce financial strains on graduates during the pandemic.