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Biden Administration Announces Big Investment Totals for HBCUs $16B in “whole of government” Investments

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More investments are needed from federal and state governments as well as philanthropic organizations to support HBCUs and their students

Washington, D.C., May 16, 2024- Today, the Biden-Harris Administration announced that during their three-plus years in office, historically Black colleges and universities (HBCUs) have received over $16 billion in investments.  Not only does this investment include funds received from their COVID-19 American Rescue Plan (ARP) law but also other routine, annual investments like the Education Department’s Strengthening HBCUs and student help-focused Pell Grant programs.

“UNCF (United Negro College Fund) works with both political parties and is non-partisan, and even with that I can tell you no other administration has prioritized HBCUs like this one,” said Dr. Michael L. Lomax, president and CEO, UNCF.

“HBCUs have been chronically underfunded, systematically, since inception.  While the efforts of the Biden-Harris Administration are helpful, let me be clear more is needed via federal and state governments as well as our philanthropic partners.”

“Big efforts like this are done purposefully, not by happenstance,” said Lodriguez Murray, senior vice president, public policy and government affairs, UNCF.  “President Biden and Vice President Harris came into office proposing nearly $9 billion for HBCUs via the ARP and their infrastructure plan.”

“The funds in the $16 billion-number showcase a dual strategy that we at UNCF have also embraced, prioritizing institutions and students. Infrastructure funds are necessary for institutions, and students coming from a lower socioeconomic background must have the Pell Grant doubled. We at UNCF want to work with everyone to ensure these outcomes are achieved,” Murray said. United Negro College Fund, Inc. (UNCF) 240.703.3384 roy.betts@uncf.org

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