This sounds like something out of a 1990s episode of The Simpsons, but… In South Carolina at North Charleston High School, a program is underway to provide free belts as part of a campaign against sagging pants. Apparently the men behind the "No More Sagging" campaign—one of whom is a mentor at the high school—have handed out 30 belts thus far. From KTVU:
[Thomas] Ravenell told the WCIV on Aug. 22 that the goal of the program is to teach young men about "manhood" and "carrying themselves with "respect." He shared with the local media outlet that students returning to school purchased new clothes and shoes but they didn't have a belt to wear with them[…]
"If you want respect, you must first respect yourself. With your pants sagging, it shows a negative attitude towards you. So we want to teach the children that if you want to be respected, and if you want respect, then you have to give it," Ravenell told WCIV.
Another South Carolina town, Timmonsville, has taken a hardline approach to the urgent crisis of sagging pants by instituting an ordinance against it. After two warnings, the violator is issued a $100-$600 fine. Similar laws have been enacted in other places.
While some sources suggest the roots of sagging are in prison where inmates are prohibited from wearing belts, that may be apocryphal.