Lacking large endowments, HBCUs are suffering greatly due to recession

<p>"ATLANTA - Historically black colleges and universities, which for decades have been educating students who cannot afford to go — or cannot imagine going — elsewhere, have been particularly challenged by the U.S. economic meltdown.</p>

<p>Enrollments at the schools have declined at the same time endowments have dropped and fundraising sources have dried up. The same is true at most universities, but often students at black college and universities need more aid to stay on course.</p>

<p>"What's most difficult for our institutions is that they are tuition-driven," said Michael Lomax, president of the United Negro College Fund. "They don't have large endowments, and even the ones who do, have seen a large reduction in the value of those endowments."</p>

<p>Most colleges are dealing with economic problems. One recently released survey on 791 American public and private colleges reported that endowments fell 3 percent in the fiscal year ending June 30, and a smaller group estimated a 23 percent drop in the first five months of fiscal year 2009, which began in July. ...</p>

<p>Only three black colleges — Howard University in Washington, D.C., Spelman College in Atlanta and Hampton University in Virginia — had endowments among the top 300 included in the survey. Most lack the resources and strength in alumni giving of their mainstream counterparts...."
Economic</a> woes test black colleges - Race & ethnicity-</p>

<p>Maybe it's time to reconsider the continuing desire for racial segregation in higher education.</p>