News, Politics - Tuesday, May 12, 2009 23:19 - 2 Comments

Recession Hits HBCUs

The recession has struck again, this time hitting Historically Black Colleges and Universities (HBCUs) hardcore.

Although President Obama’s education budget, which was revealed Thursday, promises more money for students from low income households, it left out one major detail: more than $85 million that had been awarded to Black institutions for the past 2 years. The cut is due in part to the changes made to the 2007 student loan laws. So rather than money going directly to institutions, more money is going towards improving other parts of the budget, such as a $200 increase in the maximum amount awarded for students that receive Pell Grants, jumping to $5,500.

However, this does nothing for HBCUs that already struggle with thin budgets and low graduation rates, reported at being 37 percent graduating within a 6-year academic period. Other schools affected by the budget cut are Native American tribal colleges, while colleges catering to a large Hispanic student body will see an increase this year from $93 million to $98 million. — Kiara Gillette