DOE Discharges Over $1.6 billion in HBCU Capital Finance Debt


LAW DAWG

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The U.S. Department of Education recently discharged approximately $1.6 billion of debt provided to Historically Black Colleges and Universities (HBCUs) that participate in the HBCU Capital Financing Program. This action will provide debt relief to 45 HBCUs – 13 public institutions and 32 private institutions.

The Coronavirus Response and Relief Supplemental Appropriations Act (CRRSAA) signed into law in December 2020 provided authority and funding to discharge debts held by HBCUs under the HBCU Capital Financing Program. In combination with funds provided in the American Rescue Plan, signed by President Biden on March 11, 2021, and the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), HBCUs will also receive more than $5 billion through the Higher Education Emergency Relief Fund programs.

SWAC Institutions Receiving HBCU Capital Finance Debt Discharges

Alabama A&M University
Alabama State University
Grambling State University
Southern University at Baton Rouge
Texas Southern University

 
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Olde Hornet

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Great News!
 
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