"The HBCU Capital Financing Improvement Act (H.R. 5530), introduced by Reps. Alma Adams (D-NC) and Bradley Byrne (R-AL), is intended to increase access to capital by Historically Black Colleges and Universities (HBCUs) by making changes to the HBCU Capital Financing Program which provides low-cost capital to finance improvements to campus infrastructure at HBCUs. Acting as a loan guarantee program to finance repairs, renovations, and construction of critical campus buildings, the program receives contributions from 40 HBCUs and typically offers loans ranging between $10 million and $20 million," Lexology's Education Matters Blog reports.
"H.R. 5530 is supported by the American Council on Education, the National Association of College & University Business Officers, the Association of Public & Land-Grant Universities, the American Indian Higher Education Consortium, the National Association of Independent Colleges & Universities, the National Education Association, the American Association of State Colleges & Universities, the Hispanic Association of Colleges & Universities, the American Association of Collegiate Registrars & Admissions Officers, Student Affairs Administrators in Higher Education, the Council for Christian Colleges & Universities, the Thurgood Marshall Scholarship Fund, the National Association of Student Financial Aid Administrators..."
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Publication Date: 7/15/2016