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HBCU Capital Financing Board Offers Help To Katrina-Hit Schools

by Dianne Hayes , October 30, 2006

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Staff members reported to the board problems with a loan taken out by Barber-Scotia College, which has been unable to make debt service payments, according to Hansel. “We are forced to draw from escrow to make payments. It’s very tragic what’s happened there,” he said.

However, the board also highlighted success stories from universities in the program that have been able to improve their credit ratings through successful repayment of the government loans, such as Lincoln University in Pennsylvania and Clark Atlanta University.

The HBCU capital financing program provides financial insurance through a designated bonding authority to guarantee construction loans to qualified HBCUs. The nine-member board of HBCU administrators advises the U.S. Secretary of Education on the capital needs of HBCUs and how to best meet those needs through the capital financing program. 



© Copyright 2005 by DiverseEducation.com

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