HBCU Presidents Outraged at Obama for Student Loan Changes: Thousands of Students Dropping Out

Written by MCJStaff   // September 2, 2013   // 0 Comments

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Obama and crying student
photo credit: rightchange.com

Has President Barack Obama betrayed the presidents of Historically Black Colleges and Universities (HBCUs)?   That’s up for debate.  But some are openly questioning the president’s recent support for the tightening of restrictions on student loans.  Since the president approved the change, thousands of student loan applications have been denied.  This has cost struggling HBCUs an estimated $160 million.

“We sat silent and now our chickens have come home to roost,” said Alcorn State University president, Dr. Christopher M. Brown, during an interview with HBCUDigest.com.  HBCUs are already struggling, with smaller endowments than most.  With students not being able to get financial aid to attend college, this is even more devastating to their already difficult financial situation.

According to Politic365.com, the Department of Education says that 39,000 students were denied Parent Plus loans over five months in 2013.   According to Politic365, the worst schools hit were Howard and Hampton Universi

ties, which lost $7.5 million and $6.5 million, respectively.  With such shallow endowments already, these amounts represent a tremendous financial hit for these campuses.

 

President Brown does an interview with the website at this link to discuss the problems that HBCUs have faced since the president allowed for this change.  This makes one question whether or not the Obama Administration is truly supportive of the black community or is only supportive in a symbolic sense.


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