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
Twitter: @LVBurke / Lauren Victoria Burke is an independent journalist who analyses politics and justice reform. She created Crewof42.com, a blog that covers the work of African American members of Congress, in 2009. Ms. Burke has also been a staffer for the Senate Democratic Policy Committee and Director of Communications for Rep. Andre Carson (D-IN). She has had a very diverse career in politics and media and appears weekly on NewsOneNow with Roland Martin. She has also appeared on Hardball with Chris Matthews, Politics Nation with Al Sharpton and Up with Steve Kornacki on MSNBC. She is also a contributing writer for NBCNews.com and TheRoot.com Ms. Burke was born in the Bronx, New York and grew up on Long Island. She holds a B.A. in History from The American University. E-mail: LBurke007@gmail.com. Instagram: LVB325.

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