One university in Ohio made an unforgettable graduation speech by announcing that it was erasing the debt for its graduating students.

On Saturday, Wilberforce University President Elfred Anthony Pinkard announced at the end of the commencement ceremony that the school is forgiving student loans for its 2020 and 2021 students.

USA Today reported that the university would use funds from the United Negro College Fund, the Jack and Jill Foundation, and other sources to wipe out more than $375,000 in debt.

“We wish to give you a fresh start,” Pinkard told the graduating students. “And you don’t owe Wilberforce anything. Congratulations.”

According to CNN, the school said that students' federal loans, bank loans, or other personal loans were not part of the gift.

However, the funds would cover fines, fees, and tuition balances paid directly to the school by students or their parents.