Economy Hits Historically Black Colleges Hard
Zakiya Williams had found a perfect fit at Spelman College. But when the tough economy hit the sophomore and her family hard, she packed her bags, ready to drop out.
"I was not able to get loans, nor were my parents," she said. "It became really difficult because I felt all my avenues were exhausted."
"Every college and university is asking the question, 'What will our enrollment be next year?' not because of a change in institution, but because families are really being hit by the economy every day," Spelman College President Beverly Tatum said.
Since 2004, $238 million in federal funding has been earmarked annually for historically black colleges. In the last two years, those institutions benefited from an extra $85 million each year under the College Cost Reduction and Access Act. When that program ends in May 2010, the institutions may feel the squeeze even more.
The White House budget office says Obama's proposed budget calls for a 5 percent increase in permanent funding for historically black colleges. But many in the black college community wanted more. [CNN]
