HBCUs also feeling the pinch during this economic crisis

I just ran across this article and thought I would share it with you because I have not heard much discussion about our economy and it’s impact on HBCUs (Historically Black Colleges and Universities).  Here are a few excerpts.

MSNBC– RECESSION HITS BLACK COLLEGES HARD

Many U.S. universities have been affected by the recession, which has eroded state and private funding for education. But a majority of students at black colleges come from low- or middle-income families, making them and their schools more vulnerable to the economic squeeze.

As it bites, students struggle to get loans and scholarships, and the colleges struggle to pay bills…

…In a dramatic example, Clark Atlanta University laid off 70 of its 229 full-time faculty members and consolidated classes in its arts and science school last week when 300 students out of an enrollment of about 4,000 failed to return for the spring semester because of cost.

“Ninety-eight percent of our students require financial aid. As that became less accessible, increasingly our students have found they were unable to return,” said spokeswoman Jennifer Jiles.

regarding the stimulus package

It would include more than $800 million for infrastructure projects on HBCU campuses and $500 million over two years for improvements in technology as well as increased federal grants for students from low-income families, she said.

Are you a student attending an HBCU that has been affected by inability to obtain loans?

Do you think the money allotted from the stimulus package will be enough to keep HBCUs thriving financially?