Education Department Wipes Out $1.6 Billion in HBCU Debt

The U.S. Department of Education recently discharged approximately $1.6 billion of debt provided to Historically Black Colleges and Universities that participated in the HBCU Capital Financing Program.

The goal of the HBCU Capital Financing Program is to provide low-cost capital to finance improvements to the infrastructure of the nation’s historically Black educational institutions. Since 1994, the program has provided HBCUs with access to capital financing or refinancing for the repair, renovation, and construction of classrooms, libraries, laboratories, dormitories, instructional equipment, and research instrumentation.

“Our HBCUs have long been on an uneven playing field, financially, as compared to many other postsecondary institutions,” said Secretary of Education Miguel Cardona. “This relief will further support these mission-critical institutions and help to ensure they have more resources to educate and graduate students during the unprecedented COVID-19 pandemic.”

The decision will provide debt relief to 45 HBCUs – 13 public institutions and 32 private institutions. Following is a list of the HBCUs receiing debt relief.

Alabama A&M University
Allen University
Alabama State University
Arkansas Baptist College
Barber-Scotia College
Benedict College
Bennett College
Bethune–Cookman University
Central State University
Claflin University
Clark Atlanta University
Florida A&M University
Florida Memorial University
Grambling State University
Hampton University
Harris–Stowe State University
Huston-Tillotson University
Jarvis Christian College
Johnson C. Smith University
Lane College
Lawson State Community College
LeMoyne-Owen College
Livingstone College
Meharry Medical College
Miles College
Morgan State University
Morehouse College
Morehouse School of Medicine
Philander Smith College
Saint Augustine’s University
Shaw University
South Carolina State University
Southern University at Baton Rouge
Southern University at Shreveport
Stillman College
Talladega College
Texas College
Texas Southern University
Tuskegee University
University of the Virgin Islands
Virginia Union University
Voorhees College
Wilberforce University
Wiley College
Xavier University of Louisiana

Comments (2)

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  1. HBCU Watch says:

    Why does it appear that the small HBCU located in the heart of the Mississippi Delta called Mississippi Valley State University is ALWAYS left out when it comes to FUNDING SUPPORT?

    • soundview partners says:

      we will discuss your dilemma, we discussed at HBCU conference in 2017, with then Female President of the school.

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