President Obama has proclaimed this HBCU Week. The 100 plus Historically Black Colleges and Universities are a single source for propelling blacks into the middle class.
Student funding and retention are key for HBCU's in the bad economy. Dr. Michael Lomax of the United Negro College Fund says over 50 percent of students drop out of college with many citing financial difficulty.
Dr. Robert Franklin, President of Morehouse College says, "The national graduation rate for African Aamerican men is lower than any other segment of the population." He contends "finances keep many of our students away from the finish line." He says as little as six thousand dollars per student makes the difference. The Atlanta School which boasts Dr. Martin Luther King Jr. as a graduate, has an annual price tag of 35 thousand dollars.
Dr. Lomax contends, "the average cost of a private HBCU is 20 thousand dollars a year, consitantly 30 percent lower than an equivalent white institution."
In a related note, the United Negro College Fund says it motto " A Mind is a Terrible Thing to Waste" turns 40 next year.
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