Photo by Brett Bowers

Graduating seniors at Howard University have begun collecting tuition rebates, which were offered as an incentive to graduate early or in four years, the university announced this week.

The school has been shelling out 50 percent of students’ final semester tuition, which amounts to an average of $4,000, according to university spokesperson Anthony Owens. The payments will be made up until the school’s commencement ceremony, where President Obama is slated to make the day’s sendoff speech.

In 2013, U.S. News & World Report said that one of the reasons the university dropped from its top 100 national universities ranking was a decline in graduation and retention rates. Currently, the university’s 4-year graduation rate is 42 percent.

“Howard University has an unwavering commitment to the needs of its students,” said Howard University President Dr. Wayne A. I. Frederick, adding that the rebates are both rewards and financial relief for students.

Last September, students protesting operational dysfunctions at the historically black university noted access to financial aid as a common gripe; tuition at the private institution is $21,450 per year.

Two months later, the university’s marching band announced a protest during a football game, stating that they decided to wear all black “for the lack of a budget—more specifically scholarships for the band program—and to shed light on the lack of financial support for the student body.”

According to a release, the school’s board of trustees unanimously supported the decision last year to give financial incentives to students who complete their undergraduate degrees within four years. The university expects to present 1,300 Bachelor’s Degrees at its commencement ceremony this year.