Once a beacon of hope for thousands of Black students denied access to higher education by predominantly White institutions, historically Black colleges and universities have educated generations of Black scientists, doctors, lawyers, educators and social activists. But today, these institutions face serious challenges. Questions of relevance have reached a fever pitch as today’s Black colleges work to address declining enrollment, low graduation rates and financial instability. Despite the challenges, however, HBCUs for many Black students – and others – remain the last best hope of succeeding in the higher education arena. As the age-old debate for and against Black colleges rages on, Diverse has identified five threats facing HBCUs and five opportunities that could define their futures.
Threats
The peril of weak endowments and low alumni giving is consequential in the economic environment. HBCU endowment information is hard to come by. Just five schools responded to the National Association of College and University Business Officers Endowment Survey. For those that responded, the average endowment market value was $244.7 million, compared with an average of $521.9 million for all non-Black institutions. The proposed sale of portions of Fisk University’s prized art collection donated by Georgia O’Keefe to raise much-needed cash and the proposal by the Georgia state Legislature to merge financially troubled Savannah State and Armstrong Atlantic State Universities to cut costs illustrate the financial volatility impacting many Black colleges.
