While visiting Morehouse College to give a commencement speech, President Joe Biden made an announcement of his intentions for more funding at HBCUs.
He announced an additional $16 billion in funding for Historically Black Colleges and Universities on Sunday, emphasizing their critical role in the nation’s educational and social landscape.
Biden acknowledged the unique and transformative legacy of Morehouse College, the only all-male historically black college in the country.
“In addition to the original $7 billion investment in HBCUs, I’m investing 16 billion more dollars because you’re vital to our nation,” Biden said.
This substantial financial commitment aims to address the financial disparities that many HBCUs face compared to other higher education institutions.
President Joe Biden also highlighted the necessity of modern resources for HBCUs to remain competitive and continue producing exceptional graduates.
“Most HBCUs don’t have the endowments. The jobs of the future require sophisticated laboratories, sophisticated opportunities on campus,” he noted.
This investment is intended to help HBCUs to develop state-of-the-art facilities and expand opportunities for their students.
The President also tied this investment to broader efforts to ensure economic and social justice. By enhancing the capabilities of HBCUs, Biden believes these institutions can play a crucial role in creating generational wealth and leadership within Black communities.
“We’re opening doors so you can walk into a life of generational wealth, to be providers and leaders for your families and communities,” Biden told the Morehouse College crowd.
“I have no doubt that a Morehouse man will be president one day, just after an AKA from Howard,” Biden said to laughter and applause. “She’s tough, guys.”
Artificial intelligence was used for a portion of this content.