by

PHOTO/DANIEL COSTON Students at historically black college and universities like Johnson C. Smith University, would bear less of a financial burden due to student loans under a proposal floated by Democratic presidential candidate Hillary Clinton.

Presidential candidate Hillary Clinton is pledging to take the sting out of attending historically black colleges.



As part of the New College Compact, Clinton, the Democratic front-runner, announced last week a dedicated $25 billion fund for private colleges. For public and private colleges, the initiative would reduce loan debt for students and their families.



For students attending predominantly black technical schools and community colleges, they would attend tuition-free, similar to a plan proposed by President Barack Obama.



The $25 billion fund, which includes non-profit, private HBCUs, is based on the America’s College Promise Act sponsored in Congress by U.S. Rep. Bobby Scott, a Virginia Democrat. The funds would help schools lower attendance costs and implement support to improve student outcomes.



More than 300,000 students are enrolled in the nation’s 105 HBCUs, which make up 3 percent of the nation’s colleges and universities and enroll 10 percent of African American undergraduates. They produce 20 percent of black college graduates, most of who take out loans to pay for school or come from low-income families that qualify for federal Pell grants.



“No one can deny the importance of a higher education these days in helping more people achieve the American Dream,” said Scott, ranking member of the House Education and Workforce Committee. “Unfortunately the cost of a higher education today can be a barrier for many families. Secretary Clinton's proposal to make higher education affordable comes just at the right time and demonstrates the tough budget choices that are necessary to ensure more students can access and pay for college. It's a matter of simple priorities.



“We can make college affordable for more families or we can keep extending tax loopholes and tax cuts for the wealthy.”



According to the National Center of Education Statistics, 20 percent of black students graduate from college within four years compared to 43 percent of whites. A survey of 64 HBCUs by the Journal for Blacks in Higher Education showed the majority of campuses surveyed reported six-year completion rates of less than 50 percent.



Under Clinton’s New College Compact, the initiative:

• Boosts federal funds in states that commit to investing more in public HBCUs.



• Pumps in more funds when public schools enroll low- and middle-income students.



• Ensures that Pell recipients at public HBCUs can direct that funding toward living expenses. For private HBCUs, Clinton's compact:



• Creates a dedicated $25 billion fund to provide support to private nonprofit schools that serve low- and middle-income students and help them build the skills they need.



For all HBCUs, Clinton's plan:



• Cuts interest rates that students pay on any loans they take out so the government never profits.



• Enables students to refinance loans at lower current rates.



• Parents with PLUS loans will be able to refinance at current rates.

• Extends the $1,000 American Opportunity Tax Credit to low-income families sending their children to HBCUs.



• Parent PLUS borrowers will not have to take out such high levels of debt in order to send students to HBCUs.



• Students never to have to repay more than 10 percent of their monthly income.



"For far too long, our leaders haven't address the unacceptable rise in cost of college," said Bryanta Maxwell, President of the Young Democrats of South Carolina and graduate of South Carolina State University in Orangeburg. “No challenge is too big for Hillary Clinton, who is ready to tackle this issue that has gone unaddressed for far too long.”

Comments