The Fayetteville Cumberland County Economic Development Corporation's new loan program, "Can Do Performance Finance Program," is focusing on entrepreneurs with mostly low to moderate incomes.
"I think Saint Augustine's signed this loan because they felt desperate trying to open their school for the fall of 2024."
The school previously announced that the fall semester was being delayed due to needed building repairs from damage caused by Tropical Storm Debby.
The SAVE Plan, dubbed the most affordable plan for borrowers and President Joe Biden's hallmark surviving student debt reform effort, is the target of two Republican-led lawsuits that argue the Biden administration has gone beyond its authority in aspects of the plan.
Nearly 74,000 North Carolinians stand to benefit from the program.