Hillary Clinton Unveils Initiative That Would Give $25 Billion to HBCUs
Under the New College Compact, Clinton would give more federal funding to HBCUs that cater to low- and middle-income students
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Earlier this week, Democratic presidential candidate Hillary Clinton unveiled an initiative that aims to combat the rising costs of college tuition and that would also give billions of dollars in funding to HBCUs.
Under the New College Compact, states would be responsible for eliminating student loan debt by providing additional funding to universities, and colleges would be required to control costs to keep tuition rates down. Clinton’s proposal also provides $25 billion to private HBCUs, schools that she has commended for increasing the number of Black educators and Black engineers in the country.
By allotting more federal funds for HBCUs—and favoring schools that accept higher numbers of low- and middle-income students—and ensuring that students can use scholarship funds for living expenses, Clinton hopes to fully eliminate the need for Black students to take out loans.
In the event that a student would have to take out a loan, her initiative would reduce the interest rates. Additionally, a portion of the proposed funding would be invested in programs like TRIO and GEAR UP, which provides services like child care to student parents.