Biden announces more than $1B for historically Black colleges and universities
WASHINGTON (NEXSTAR)-- Historically Black colleges and universities produce nearly 20% of Black graduates in the country, but the institutions are also historically underfunded.
At the 2024 National HBCU Week Conference Monday, President Joe Biden said he's working to change that.
"Black excellence is American excellence," President Biden said. "All of our students, all of our colleges and universities should be able to succeed."
The president announced his administration is investing more than $1 billion in HBCUs, bringing its total contributions to the schools to more than $17 billion.
"The most ever any administration has ever, ever, ever committed," President Biden said.
The Trump administration reauthorized $225 million in mandatory funding to minority-serving institutions, which included $85 million in recurring funds for HBCUs.
Former President Donald Trump and Vice President Kamala Harris, an HBCU grad herself, have both vowed to make the schools a top priority if they win in November.
"HBCUs have always outperformed other institutions by doing more with less," said Dr. Tony Allen, the president of Delaware State University.
Allen said support for HBCUs should be bipartisan, in part, because of their larger impact.
"We are an economic engine wherever you find an HBCU," Allen said.
Allen said HBCUs collectively provide more than $16 billion every year to their communities.
"Our students are trying to change their lives for their families, for their communities," he said.
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