Biden-Harris Administration Announces Historic $16 Billion Investment in HBCUs

Funding aims to enhance educational quality, economic mobility, and research capacity at historically Black colleges and universities.

Total investment includes $11.4 billion in federal grants, contracts, and debt relief from FY 2021 to FY 2023.
Additional $4 billion supports HBCU students through financial aid and educational benefits for veterans.
HBCUs contribute significantly to the economic mobility of Black Americans, producing a large percentage of Black professionals.
New initiatives include the first HBCU-led University Affiliated Research Center and a $7.75 million Clean Energy Education Prize.
Despite historic underfunding, HBCUs have seen a resurgence in applications and enrollment.