Northeastern offers debt-saddled alums a chance at relief—if they donate
Northeastern University alumni facing the daunting challenge of paying off student loans were offered a chance at debt relief from the school on Wednesday—for the small price of some more money.
“Summer’s on us! Make a gift of any size to Northeastern by June 30, and you will be eligible to win $1,000 worth of student loan repayments,” the school wrote in an email to alumni.
Asking alumni who have their own debt to pay to enter a debt lottery struck some as unseemly.
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In a statement to Gawker, Northeastern spokesperson Matthew McDonald said the campaign was for recent graduates.
“A Northeastern donor’s innovative idea and support led to a text message campaign for recent graduates,” he said. “The campaign intended to fulfill two of the donor’s goals: to raise support for the university and to lend a hand to alumni with student loans—an issue that Northeastern University takes seriously.”
The University told Boston.com on Thursday afternoon that the offer was just for one day and had already ended.
“Inspired by a well-intentioned donor, the university launched a one-time text message campaign to a limited group of alumni. It was a one-day effort and has now concluded.”
For many trying to pay off student loans, winning $1,000 likely wouldn’t mean the “summer’s on us,” as the school says.
At Northeastern University, 44 percent of undergraduates take out federal student loans, borrowing an average of $6,673 per year, according to data from College Factual.
Northeastern’s tuition costs $23,360 per term for the 2016-2017 school year. That total does not include numerous other costs like housing, food, textbooks, and transportation.
Northeastern President Joseph Aoun has repeatedly been listed among the highest-paid college leaders in the country. In 2011, he made more than $3 million in total compensation, the second-most in the country at the time. That total has since decreased to $1 million for the 2013 calendar year.
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