Jun 24, 2016 11:03 AM EDT By Ron S., UniversityHerald Reporter

Georgetown University has stated its intentions to make amends for its role in the 1838 slave trade.

John J. Degioia, university president, had announced on Wednesday the university's intention to make amends for those affected, which revealed plans to address the importance of knowing what happened during the slave trade, and what was the state of racism and segregation at Georgetown, TIME reported.

Georgetown University sold about 300 slaves in 1838, which is during the time that slave trading was prominent worldwide.

DeGioia stated that the event was an important moment in the university's history, and had mentioned its intentions to make amends for its role, rather than sweeping it under the rug as if nothing happened.

The university president at Georgetown University cites the importance of recognizing the event that took place in 1838, for it is an integral part of the nation's history, let alone the university, according to The Washington Post.

The university is set to spread awareness, as the institution had made plans to add African American studies in its faculty, as well as form a research center focused on racial-related issues, among of which racial injustice as a main focus.

The move to make amends may have been due to recent criticisms that the university had received in recent years, as it drew student activism and racial unrest among citizens, The New York Times reported.

Recently, Georgetown had made its intentions public to remove the names of two buildings, which were named after 19th century presidents with prominent roles in the sale of slaves to a Louisiana plantation.

It was reported that the sale in Georgetown was to pay off debts of the school. DeGioia had stated that he received a draft report under the title, "Working Group on Slavery, Memory and Reconciliation," which was the product of last year's study.

The report has revealed that Georgetown's earnings from the sale were estimated to be at $3.5 million, which was adjusted to inflation.

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