Giving to higher education hit an all-time high of nearly $34 billion in 2013, according to the Council for Aid to Education. Unfortunately, these new heights in higher education philanthropy have largely bypassed the nation’s historically black colleges and universities (HBCUs).
A recent New York Times report, “Hard Times at Howard,” placed the spotlight on the financial woes of HBCUs. Where they once had a monopoly, these schools are now competing for top Afircan-American students — and often losing — to top-tier research universities and other elite institutions. Shrinking enrollments, limited endowments, and even instances of financial mismanagement have strained the coffers of HBCUs. As the Times reported, not even the venerable Howard University has been spared from these challenges. read more…
