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U of M awards degree without forcing recipient into debt

Prince won't pay a dime of interest on his honorary degree from the University of Minnesota.

Prince won't pay a dime of interest on his honorary degree from the University of Minnesota.

In a rare move Friday, the University of Minnesota awarded a degree that did not come loaded with $30,000 in student loan debt

Late pop superstar Prince Rogers Nelson received the honorary, non-debt-shackling, posthumous degree, which was approved unanimously by the U's Board of Regents. 

University President Eric Kaler issued the following statement about the historic debt-free degree.  

“Prior to his untimely passing, the University of Minnesota was in the process of considering a nomination to award an honorary degree to one of the state’s own, Prince. The honorary degree is the highest award conferred by the University of Minnesota, and may be awarded to an individual who has achieved acknowledged eminence in cultural affairs, in public service, or in a field of knowledge and scholarship."

It is unclear if Bob Dylan is still paying interest on his handful of University of Minnesota credits from 1959.