WASHINGTON (dpa-AFX) - The Biden Administration has announced $1.3 billion in additional funding to support historically Black colleges and universities in the United States.
Combined with the previously announced $16 billion in total federal investments in HBCUs, the Biden Administration has set another record of more than $17 billion in federal investments in HBCUs from FY 2021 through current available data for FY 2024.
Despite representing only 3 percent of colleges and universities, HBCUs provide college access to twice as many Pell Grant-eligible low- and middle- income students as non-HBCU institutions, according to a fact sheet by the White House. HBCUs have produced 40 percent of all Black engineers, 50 percent of all Black teachers, 70 percent of all Black doctors and dentists, and 80 percent of all Black judges. The first Black American and first woman to be Vice President of the United States, Kamala Harris, also is a HBCU product.
Research by the United Negro College Fund (UNCF) found that, compared to the Ivy League and other top-ranked non-HBCU institutions, HBCUs help more than five times as many students move from the bottom 40 percent to the top 60 percent of U.S. household.
A report by the Council of Economic Advisors (CEA) published in May found that even in the face of underfunding, HBCU enrollment was associated with an increased likelihood of completing a bachelor's degree and higher household income. As per the report, HBCUs have seen a surge in applications and enrollment in recent years.
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