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Loan Forgiveness A Helpful Boost To Fresno Pacific Students, Alumni
FPU quad
Students visit in the main quad area of the Fresno Pacific University campus; students and alumni from the school are among those expected to benefit from the student loan forgiveness program. FPU Photo

Thousands of Fresno Pacific University undergraduate students and alumni would benefit greatly from the loan forgiveness program proposed by President Joe Biden.

For example, most students who took out loans since 2018 would have the majority of their federal debt erased, according to estimates by the FPU Student Financial Services Office. (The program forgives loans made before 2018, but earlier figures for the university were not immediately available.)

From 2018-2022, 5,256 FPU students across all traditional and bachelor’s degree completion programs took out federal loans, making them eligible for up to $10,000 in loan forgiveness. Of that group, 4,017 received Pell Grants, making them eligible for a total of up to $20,000 in loan forgiveness under Biden’s plan.

Each of the 5,256 students, graduates and alumni borrowed an average of $15,080 in federal funds, while the 4,017 Pell Grant recipients who borrowed took out an average $15,553 each. Biden’s plan would forgive 79.7 percent of the debt of all borrowers and 84.7 percent of the debt of borrowers who received Pell Grants.

Students who borrowed for their teaching credential would share in the benefit. From 2018-2022, 997 credential students borrowed an average $16,304. Among them were 737 borrowers who received Pell Grants, averaging $17,009 each. All federal borrowers would have 77.4 percent of their loans forgiven, with Pell recipients having $17,009 forgiven. In all, $63,161,107 of the $79,258,793 borrowed by eligible students—undergraduate and credential—through federal programs since 2018 would be forgiven.

College debt falls most heavily on graduates who come from families of lower incomes and people of color as well as graduates just starting their career.

“These are the very students who attend FPU in the greatest numbers,” said FPU President André Stephens, Ph.D. “Even a modest debt at this time in their lives can have a lasting effect that makes it harder for them to enjoy the well-documented economic and social benefits of higher education. College debt can be debilitating just at the time graduates should be building success for themselves, their families and their communities.”

Some 95 percent of FPU students receive financial aid, and 67 percent come from families earning less than $40,000 a year. More than half of students (54 percent) identify as Hispanic, and 49 percent are the first in their families to attend a university.

While state Cal Grants and federal grants, which do not need to be repaid, are the largest providers of financial aid, federal loan programs are also important to many students and families. According to the U.S. Department of Education College Scorecard, 59 percent of FPU students take out an average of $23,219 in federal loans over their student career. Payments on those loans average $232 a month.

Nationwide, the plan could help 95 percent of the 43 million federal student loan borrowers, according to Inside Higher Education. In keeping with the intention to help students from middle- and lower-income backgrounds, loan forgiveness would be restricted to individual borrowers earning less than $125,000 a year and families earning less than $250,000.

Biden’s plan also extends the two-year pause on college loan payments to January 2023. Before the pause, FPU’s loan default rate was 4.5 percent, a drop from the prior two years and below the national default rate of 7.3 percent at the time.

Fresno Pacific University is the only accredited Christian university founded in the Central Valley. FPU connects every student’s untapped potential with unlimited opportunity for professional, personal and ethical growth. FPU offers undergraduate, graduate and seminary programs that stress solid academic preparation and a strong ethical foundation to more than 3,500 traditional and adult students on the main campus in southeast Fresno and regional campuses in North Fresno, Visalia, Bakersfield and Merced as well as online. FPU is accredited by the Western Association of Schools and Colleges and ranked in the top tier among western universities—master’s category by U.S. News & World Report. Both U.S. News and Washington Monthly include FPU on their “Best Value” and “Best Bang for the Buck” lists, U.S. News places it at number 13 in its category for student social mobility and Money has ranked it at number 11 among 50 Best Colleges for Transfer Students. A description of the unique quality of FPU as an academic community can be found in the Fresno Pacific Idea at