Katrina Loan Changes Mean Relief to HBCUs - Higher Education

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Katrina Loan Changes Mean Relief to HBCUs

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by Associated Press

NEW ORLEANS — Three historically Black colleges and universities in New Orleans and one in Mississippi are getting relief from their federal loans taken after Hurricane Katrina.

U.S. Sen. Mary Landrieu says Dillard University, Xavier University and Southern University at New Orleans have received loan modifications that will save the schools more than $200 million. She says Tougaloo College in Mississippi has also received a modification that will save it an estimated $4 million.

Last week, Landrieu announced she added a measure to a 2012 spending bill that’s enabling the Department of Education to modify the loans so that the schools can take advantage of the current low interest rates. Landrieu says the schools have been paying off the loans, but have struggled as enrollment levels have yet to return to pre-Katrina levels.

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