“On behalf of our 47 member-schools, Thurgood Marshall College Fund (TMCF) extends its gratitude to the 115th Congress and the Trump Administration for supporting HBCU funding in the FY’17 budget.
In addition, we are pleased by their commitment to funding year-round PELL for the remaining five months of this year.
Access to these additional resources will allow the 259,128 students, at Thurgood Marshall College Fund member-schools, 75% of which receive Pell, to graduate within a shorter period of time and with less debt.
We are pleased the FY’17 Omnibus Appropriations Bill maintains level funding for most of the key programs and budget lines impacting Historically Black Colleges and Universities (HBCUs), and we view that as a win for HBCUs. We are pleased the 115th Congress increased funding for the following programs:
Title VI, Masters Degree Program received $7.5 million in new discretionary funding, a program that has not been funded since 2014.
- HBCU Capital Financing Program’s loan subsidies were level funded at $20 million, however, the new loan volume was reduced to $282 million down from $302 million in FY’16.
- TRIO program received a funding increase to $950 million, up from $900 million in FY’16.
- GEAR Up program received a funding increase to nearly $340 million up from $323 million in FY’16.