Rep. Alma Adams’ HBCU Capital Financing Bill Passes House

Rep. Alma Adams’ HBCU Capital Financing Bill Passes House

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Legislation sponsored by Rep. Alma Adams (D-NC) that would help HBCUs with federal funding passed the House on July 11. The Historically Black College and University (HBCU) Capital Financing Improvements Act (H.R. 5530) was passed by the House on Monday night and moves on to consideration in the Senate.

“I am excited to be a part of the solution for HBCUs. Access to federal funding is a challenge that most HBCUs are faced with, but under the HBCU Capital Financing Program the playing field is leveled. This program will allow HBCUs to better respond to localized needs and support their students,” Rep. Adams said in a statement.

According to a release from Adams’ office: “HBCUs participating in the Capital Financing Program currently pay a fee that is assembled into an “escrow account” to pay for any loan defaults or delinquencies. This change would allow more public institutions to participate in the program.  The legislation also, “provides additional support to institutions interested in participating, but unable to meet the program’s financial requirements. The bill will also allow the Department of Education to offer financial counseling, in addition to the technical assistance already provided.”

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Lauren Victoria Burke
Lauren Victoria Burke is a writer, comms strategist and political analyst. She created Crewof42, a blog focused on African American members of Congress, in 2009. Ms. Burke also writes for NBC BLK, The Root, NNPA and is the Managing Editor of Politic365. As part of a diverse career in politics and media, she has served as a congressional staffer for the U.S. Senate Democratic Policy Committee, Communications Director for U.S. Rep. Andre Carson (D-IN) and Director of Communications for Justin Fairfax for Lt. Governor of Virginia. From 2014 to 2017, Ms. Burke appeared each Monday on NewsOneNow with Roland Martin on TVOne. Ms. Burke holds a B.A. in History from The American University. She was born and raised in New York. Email: LBurke007@gmail.com. Twitter: @LVBurke. IG: @laurenvburke. Periscope: @LVBurke

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