HAMPTON, Va. — Hampton University will give financial assistance to graduates in the classes of 2020 and 2021.

WAVY-TV reports that university President William R. Harvey announced the assistance in a letter to graduates on Friday. Graduates with federal student loans will be given $500 towards repayment of their loans. The payment will go directly to the U.S. Department of Education loan servicer that oversees their loan.

Students who do not have federal student loans will be reimbursed their graduation fee of $150.

Graduates will be honored at an in-person ceremony on-campus in December.