FINANC

A college education in most cases is an expensive undertaking. Most students cannot afford it without substantial assistance, mainly in the form of student loans. However, there are also several other avenues to paying for a higher education, including scholarships, grants and work-study.

The Continuing Problem of Underfunding

Black students, due to their historically disadvantaged status, have a greater need for financial aid. Often lacking help from well-off parents, they have to resort to scholarships, loans, grants and work-study to complete their higher education. One organization that was formed to help is the United Negro College Fund (UNCF), which has funded more than $5 billion in scholarships for black students and general scholarship funds for 37 private HBCUs since its inception in 1944. Currently, UNCF awards more than 7,000 scholarships worth $83 million. The philanthropy also provides operating funds to its member HBCUs that maintain high academic standards while keeping average tuition approximately 28 percent lower than comparable schools. UNCF (uncf.org) is also the main voice before Congress and federal agencies advocating for black students.