The “Prime” number is $60 million.
Ever since the beginning of the COVID-19 pandemic, HBCUs have received over $3 billion in funding from the federal government. Additionally, they have also seen a substantial boost in private donations, which have encouraged them to create scholarships, update facilities and keep their doors open.
According to the United Negro College Fund, 80% of HBCU students use federal loans, while only 55% of students who don’t attend HBCUs use those loans.
At least 20 HBCUs have allocated funds from the federal government and private donations to forgive more than $60 million in outstanding student balances.
All this and more on “Prime.”
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