Home Invites Members Groups Events Careers Videos News Photos Blogs Polls Forums Chat
Home > News > Post Content

Sewell achieves House passage of $70 million in federal funding for HBCUs (499 hits)

U.S. Rep. Terri Sewell, D-Alabama, announced on Wednesday that $70 million in federal funding will be made available to both public and private Historically Black Colleges and Universities for loan deferment and facilities renovation.

The House passed this request after Sewell and a group of colleagues wrote a letter in March urging them to provide funding in 2020 for the HBCU Capital Loan deferment authority.

“The seven HBCUs in Alabama’s 7th Congressional District are built upon rich legacies that continue to leave a lasting impact on the world around us, preparing graduates for competitive jobs in our 21st century economy,” Sewell said. “The bill passed today provides over $50 million to our nation’s HBCUs for the repair and renovation of facilities and $20 million to ease the financial burdens of our most vulnerable institutions, like Stillman College, by allowing these historic institutions to continue providing students with high-quality educational opportunities.”


The HBCU Capital Financing Loan Program gives funds to HBCUs at a lower interest rate than market rates. These loans have helped HBCUs build infrastructures on their campuses in the aftermath of the 2008 economic recession.

The bill will provide $50,484,000 for the HBCU Capital Financing Loan Program in 2020 — $10 million more than was provided to HBCUs in 2019.

It also provides $20 million for the deferment of loans made under the program for financially struggling HBCUs, like Stillman College in Tuscaloosa.

Sewell’s district has seven HBCUs, tied for the most of any district in the country.

https://www.alreporter.com/
Posted By: Sister Elynor Moss
Friday, June 21st 2019 at 12:37PM
You can also click here to view all posts by this author...

Report obscenity
Share |
Please Login To Post Comments...
Email:
Password:

 
More From This Author
The Forbes 400 2019 - #131 Robert F. Smith - Investor
Last 4 Days - MLK Day Sale, 8% off every order + Free Shipping
Join us for National Mentoring Month
PROVE THEM WRONG - Motivational Video ft. Tom Brady, Michael Jordan and Martin Luther King Jr
TSU Tigers: President Glover addresses student success, unveils ‘Decade of Excellence’ platform!
Queen Latifah: Greatness In Black Women Is Normal, The Problem Is, Other People Think It's An Anomaly
Christmas Comes Early at the 19th Annual UNCF Leader’s Luncheon in Ft. Lauderdale
Honoring Leaders, Raising Funds for Next Generation
Forward This Article Entry!
News Home

(Advertise Here)
Who's Online
>> more | invite 
Latest Photos
>> more | add
Most Popular Bloggers
sister elynor moss has logged 60247 blog subscribers!
tanisha laverne grant has logged 18124 blog subscribers!
>> more | add 
Latest Member Activity
peter myers just edited his profile. 03:06PM
breona rogers just became a new member. 11:49AM
quintin murphy just became a new member. 12:12PM
peter myers just became a new member. 02:27PM
ruby nash just posted a post entitled 'critical thinking'. 06:47AM
ruby nash just became a new member. 06:38AM
bonnie bailey just edited her profile. 03:10PM
bonnie bailey just became a new member. 03:05PM
les martin just became a new member. 06:21PM
victoria sedwick just edited her profile. 03:03PM
victoria sedwick just became a new member. 02:55PM
destiny foreman just edited her profile. 08:22AM
>> more | invite friends