Do African American College Students Graduate With More Debt?

The report concluded that HBCU students borrow money at greater rates and amounts than the average college student.  Therefore, it is more difficult for them to repay their student loans post-graduation.  25 percent of HBCU graduates borrowed more than $40,000, four times more than non-HBCU grads.

Cheryl Smith, United Negro College Fund senior VP for public policy and government affairs, said, "Recently, some analysts have questioned whether the student debt crisis is real. For HBCU students, who increasingly are on the hook for financing college costs, the crisis is ever so real."

According to a new study by the United Negro College Fund, students who graduate from historically black colleges and universities do so with far more debt than their counterparts in non-HBCUs.

The study, titled, "Fewer Resources, More Debt: Loan Debt Burdens Students at Historically Black Colleges and Universities," used data from undergraduates who attended four-year public and private HBCUs.

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The Air Force Is Working To Create The First HBCU Research Center

 

According to an Air Force release, the agency is also soliciting HBCU schools with high-research activity ratings to apply. The new research center will focus on tactical autonomy. The Air Force and Department of Defense secured $12 million annually for five years to fund the center’s research, faculty, and students.

“Historically Black Colleges and Universities graduate 30% of Black Science, Technology, Engineering and Mathematics professionals in the United States, but receive less than .05% of Department of Defense research funding,” said Dr. Victoria Coleman, chief scientist of the Air Force.

HBCUs Funding Decreased

 

President Biden's $3.5 trillion spending bill was set to provide $45 billion to HBCUs and additional minority-serving institutions (MSIs). But due to Democratic infighting, the newest version of the bill only allocates $2 billion to HBCUs.

Beyoncé and Jay-Z Pledge $2M in Scholarship Funds

Beyoncé and Jay-Z are giving back to artists and creatives of historically Black colleges and universities.

Tiffany & Co. announced on Thursday that the 40-year-old singer's foundation BeyGOOD and 51-year-old rapper's charity the Shawn Carter Foundation collaborated with the jewelry luxury company and pledged $2 million to five small HBCUs.

Lil Durk Launches HBCU Program For Chicago Teens

 

Lil Durk came back to Chicago for a special night wrapping up his 7220 Tour at the United Center a venue that once upon a time didn’t allow him to perform there. Ahead of Monday’s show Durkio launched an HBCU college program through his Neighborhood Heroes Foundation, where he will introduce students to different kinds of career paths. 

Travis Scott Donates $1M To Black College Students

 

Travis Scott awarded $1 million in scholarships to 100 students at HBCUs that are slated to walk across the stage in 2022. Scott’s Waymon Webster Scholarship Fund will be donating $10K to each student who finishes off their scholastic career with at least a 3.5 GPA. 

Scott’s donations went to 38 HBCU seniors from Alabama A&M University, Central State University, Jackson State University, Morehouse College, Texas Southern University, Grambling State University, Xavier University of Louisiana, and Prairie View A&M University.  The scholarships are a part of Scott’s Project HEAL, which was established in the wake of the Astroworld tragedy, which took ten lives and injured numerous others.

Beyonce Gives HBCU Students Free Access

 

A spokesperson confirmed that the students' two-year memberships will start when they activate their account, which they can do at any time (note: it's unclear when access to the two-year membership offer will expire). Peloton also told POPSUGAR that it is the schools' responsibility to enroll their own students once the memberships are gifted, but there is no limit to how many students at each HBCU can receive a membership; students just have to be currently enrolled. If this applies to you, check directly with your school for information on how to sign up.

"Peloton and I both believe that the power of music can help uplift, motivate and inspire those on their fitness journeys," Beyoncé said in a statement. "I've been a Peloton member for several years, and I'm excited to partner with a company that helps people, young and old, be the best versions of themselves, in an innovative and adaptable way. I'm proud to celebrate the students at HBCUs with this donation, to encourage them to find and embrace their own wellness regimens."

How Bill Spruill turned his employees into millionaires

 

Black tech entrepreneur Bill Spruill turned his employees into millionaires when he sold his startup Global Data Consortium for an undisclosed amount.

The North Carolina tech company was sold to the owner of the London Stock Exchange. The financial details have yet to be disclosed, but Spruill described the amount as a “Bronto-level transaction,” which NetSuite bought for $200 million in 2015.

Nick Cannon Enrolls Into Howard University

Nick Cannon didn't hear the end of the Drumline jokes throughout the weekend, after he announced his recent enrollment at Howard University on Saturday, [August 20]. The 35-year-old entertainer shared news of his matriculation via Instagram, posting a selfie taken by the entrance of the historic Black university.

"Just remember @NickCannon "You're on time if you're 5 minutes earlier, You're late if you're on time!" #OneBandOneSound PS - Congrats," tweeted Orlando Jones, pulling quotes from the 2002 film to congratulate his former castmate. Fans will recall that in the movie, Cannon played a freshman who joins the school band at an HBCU.

It is apparent that Nick has re-engaged his educational journey full-throttle, having since adorned his page with a series of adages about knowledge from the likes of Dr. T.P. Chia, Imam Ali Ibn Abi Talib, Benjamin Franklin and Nelson Mandela. With his enrollment, he joins Stokely Carmichael, Toni Morrison, Thurgood Marshall and many other legendary artists and prominent social figures noted as Howard alumni. Good Job +Nick Cannon 

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