The higher-education plan proposed by the Biden administration earlier this year included increased subsidies for students who attend “minorityserving” institutions. The solution to this crisis, according to the established view of many policymakers and philanthropists, has been to give more money to these schools. “America’s 82 four-year HBCUs make up 5% of four-year institutions, but more than 50% of the 100 schools with the lowest three-year student-loan repayment rates.” One mother profiled by the Journal was struggling to pay off $62,000 in loans for her son who attended Howard University, who graduated with a political-science degree and $39,000 of his own debt. The Wall Street Journal recently reported that “more than 84% of college-educated Black households in their 30s have student debt, up from 35% three decades ago.… By comparison, 53% of white college-educated households in their 30s have debt, up from 27% three decades earlier.” Moreover, the article noted that students at historically black schools (HBCUs) are faring worse than others. Hardly a week goes by without a news item about the pro-blems that black students face in higher education and the efforts both public and private to ameliorate them.
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