President Joe Biden will speak at the 2024 Annual National HBCU Week Conference, organized by the White House Initiative on Advancing Educational Equity, Excellence, and Economic Opportunity through Historically Black Colleges and Universities. His address will highlight the Biden-Harris Administration’s historic commitment to HBCUs, reflecting a record investment of over $16 billion since January 2021, surpassing any prior administration’s contributions to these institutions.
This funding announcement is part of ongoing efforts to promote educational equity and economic opportunity for Black students nationwide. The total investment has increased significantly from the previously reported $7 billion, encompassing funding from Fiscal Years 2021 through data available for FY 2024. Specifically, it includes over $11.4 billion aimed at HBCUs through federal grants, contracting awards, and debt relief. In comparison, more than $4 billion has been allocated to HBCU-enrolled students in federal financial aid and veterans’ benefits. The Department of Education has secured over $900 million to strengthen HBCUs in FY 2024.
The Biden-Harris Administration emphasizes its commitment to maintaining and increasing these funding levels as part of a comprehensive strategy to support HBCUs throughout FY 2024.
The Impact of HBCUs
HBCUs have played an essential role in fostering economic mobility for Black families and communities for over 180 years, despite representing only 3% of colleges and universities in the U.S. They produce 40% of all Black engineers, 50% of Black teachers, 70% of Black doctors and dentists, and 80% of Black judges. Notably, Howard University, one of these institutions, educated Kamala Harris, the first woman and Black Vice President of the United States.
Furthermore, HBCUs enhance access to higher education for low-income students. HBCUs enroll nearly twice as many Pell Grant-eligible students compared to non-HBCU institutions. According to the United Negro College Fund, in terms of social mobility, HBCUs enable movement from the bottom 40% of U.S. household income to the top 60% at nearly five times the rate of Ivy League and other elite institutions.
A recent report from the Council of Economic Advisers underscores the pivotal role of HBCUs in driving upward mobility. It highlights the positive impacts of HBCU enrollment on bachelor’s degree attainment and future income while acknowledging the historical underfunding these institutions have faced. The report also notes a surge in applications and enrollment at HBCUs, reflecting their growing recognition and value.
Breaking Down the Numbers
A substantial portion of the $11.4 billion in funding—nearly $4 billion—came through the American Rescue Plan and other COVID relief legislation. This financial support allowed HBCUs to address essential student needs, sustain campus operations, maintain staffing levels, and enhance educational programs. These efforts were crucial for the institutions and surrounding communities, aiding equitable recovery.
The Department of Education allocated $2.6 billion to build institutional capacity at HBCUs, focusing on enhancing sustainability, improving research infrastructure, and creating direct partnership opportunities. Additionally, over $1.6 billion has been designated to advance academic and training programs in areas such as medicine, climate science, and emerging technologies. Nearly $950 million was directed toward increasing research capacity, allowing HBCUs to better compete for federal research and development funds, with almost $719 million invested in high-demand fields like computer science and nursing.
Recognizing the historical financial burdens faced by HBCUs, the administration facilitated $1.6 billion in capital finance debt relief for 45 institutions, enabling them to redirect resources toward supporting students and faculty after the pandemic’s impact. Over $2.4 million in Project SERV funds has been allocated to address students’ psychological well-being following bomb threats targeting HBCUs.
Beyond Institutional Support
Beyond institutional support, the administration secured over $4 billion in assistance for HBCU-enrolled students through various need-based grants, including Pell Grants and the GI Bill for veterans, making higher education increasingly accessible to underserved students. Collaborative initiatives have emerged, such as establishing the first-ever HBCU-led University Affiliated Research Center by Howard University and other HBCUs.
Furthermore, the Department of Commerce’s Connecting Minority Communities program works to close the digital divide by funding broadband access at 43 HBCUs. Through the USDA NextGen program, a historic $262.5 million investment aims to support diverse agricultural professionals, while initiatives like the HBCU Clean Energy Education Prize underline the administration’s focus on environmental sustainability.
