TSU relieved of big debt it owed government

August 5, 2009 2:52:41 PM PDT
The federal government has relieved Texas Southern University of millions of dollars in debt it owed the Feds. The Department of Education relieved TSU of an $11 million debt. In 1996, the government ordered Texas Southern University to repay $40 million in federal student aid. Congresswoman Sheila Jackson Lee worked out a settlement with the Department of Education to lower the amount owed to $15 million. The Feds last month relieved the final $11 million in debt.

"A release, meaning you don't have to pay, so it's like a check of $11 million dollars," said Jackson Lee. "You do not have to pay this anymore."

The president of Texas Southern University says it will invest millions of dollars saved in the education of TSU students.

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