Historically Black Colleges & Financial Subsidies -- Do Failing They Deserve Billions in Handouts? | National Review
- A lack of accountability means that mismanaged institutions repeatedly get bailed out.
"The federal government shovels hundreds of millions of dollars per year to America’s 100
historically black colleges and universities (HBCUs), with minimal accountability.
...and Congress has already
rewarded the worst performers with loan deferment and forgiveness.
...Let’s look at the biggest number first.
Senator Booker hopes to throw $100 billion at HBCUs and minority-serving institutions (MSIs) in general.
Under his plan, he would
transform HBCUs into social-activist organizations in “the fight against climate change,” though it remains unclear why being historically black makes them particularly well qualified for this task.
...Here’s what we’re already spending on HBCUs under Title III.
In 2019 Congress
gave these 101 institutions $282 million,
plus $79 million in “mandatory” money (for which the institutions need to do little but fill out a form),
plus $73 million for Historically Black Graduate Institutions (including law and medical schools)
, plus $9 million for master’s-degree programs.
...On top of all that, Howard University gets its own annual appropriation of $237 million, nearly a billion dollars every four years, having been uniquely created and chartered by Congress in 1867.
...In 2019, Congress
also offered $40 million in loan subsidies that are uniquely available to HBCUs. This number represents another entirely undeserved windfall.
This loan program, the HBCU Capital Financing Program, had been required by Congress in 2018 to
forgive or defer hundreds of millions in loans to HBCUs, including those that had the full ability to pay.
...Meanwhile, early in 2018, Howard was still reeling from its
failure to update its steam plant, whose pipes had burst in the cold and caused a delay in the start of classes.
The taxpayers’ billions over the years had not gone into plainly required maintenance..."
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