Black Colleges Will Fight Cut to Federal Program: Leaders of historically Black colleges say they’ll fight a reduction in a federal program they call a financial lifeline at a time of economic distress for the schools and their students.
President Barack Obama’s education budget, unveiled Thursday, included major spending increases in many areas but didn’t include an extra $85 million that Black institutions have received annually for the past two years thanks to a 2007 change to the student loan laws.
That two-year-old program provided direct funds to federally recognized historically Black colleges and universities.
Other direct federal support to the schools would increase from $238 million to $250 million, but with the expiration of the HBCU fund the schools effectively would see a $73 million cut.
A program supporting Native American tribal colleges would also see decreased funding, while one for institutions serving large numbers of Hispanic students would see an increase from $93 million to $98 million.
