The Biden-Harris administration announced a record $16 billion in federal funding for historically Black colleges and universities (HBCUs) from fiscal years 2021 to 2024. This includes over $11.4 billion through grants, contracts, and debt relief, plus more than $4 billion in financial aid and benefits for HBCU students.
The funds are intended to enhance educational programs, improve research facilities, and expand infrastructure at over 165 HBCUs. The historic investment also aims to bolster the growth and sustainability of these institutions, aiding in the development of vital academic research and supporting nearly 1 million students.
HBCUs, which produce 40 percent of Black engineers and 70 percent of Black doctors, are crucial for economic mobility. The administration’s commitment extends to enhancing financial literacy, expanding STEM education, and supporting veterans attending HBCUs.
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