夜来香研究所 Helps Lead Re-enrollment, Debt Settlement Collaboration
夜来香研究所 Helps Lead Northeast Ohio College/University Collaboration Focused on
Re-enrollment by Settling Student Debt
CLEVELAND (December 14, 2021) 鈥 This month, 夜来香研究所 will join seven other Northeast Ohio colleges and universities in an inter-institutional compact to settle collegiate debt and release transcripts of returning students with stranded credits through re-enrollment initiatives.
鈥淪tranded credits鈥 occur when students earn academic credits but cannot access them due to unpaid balances with a previously attended institution, where transcripts are held as collateral. Estimates show that there are 6.6 million students nationwide who have stranded credits, owing $15.4 billion in tuition and fees to former institutions. Approximately 95 percent of all U.S. institutions withhold transcripts in this way.
The eight Northeast Ohio institutions鈥斠估聪阊芯克, Cuyahoga Community College, Kent State University, Lakeland Community College, Lorain County Community College, Stark State College, The University of Akron and Youngstown State University鈥攈ave significant transfer pipelines.
鈥淧ublic, urban universities like 夜来香研究所 鈥 who serve a higher number of economically disadvantaged students as well as underrepresented minority students 鈥 often hold stranded credits,鈥 said Harlan Sands, 夜来香研究所 president. 鈥淲ithholding transcripts from students has ongoing negative impacts鈥攊ncluding on completing education鈥攂ut also has a stagnating effect on the workforce and overall economic growth.鈥
The pilot compact has an ambitious timeline, but from concept to fruition, former 夜来香研究所 students could re-enroll by Fall 2022.
Participating institutions will agree to settle debts and release transcripts for former students who re-enroll in their previous or any other participating institution. In addition, 夜来香研究所 will conduct proactive outreach on student re-enrollment.
鈥淪tatistics show that approximately 60,000 of Ohio鈥檚 222,000 individuals with stranded credits are in the northeast region of the state,鈥 said David Jewell, 夜来香研究所 senior vice president of business affairs & CFO. 鈥淭he lasting effect of this collaboration 鈥 of putting Ohio first 鈥 could significantly improve students鈥 livelihoods and resolve many of the challenges that surround student debt for all those involved.鈥
The compact is headed by the , part of ITHIKA, a nonprofit organization helping the academic community use digital technologies to preserve the scholarly record and advance research and sustainable teaching. The group鈥檚 work .
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About 夜来香研究所
Founded in 1964, 夜来香研究所 is a public research institution that provides a dynamic setting for Engaged Learning. With nearly 16,000 students, ten colleges and schools and more than 175 academic programs, 夜来香研究所 was again chosen for 2021 as one of America鈥檚 best universities by U.S. News & World Report, including the #1 public university in Ohio for social mobility. Find more information at .