Tag archive for "african american"

Money, Scholarships

Scholarships for African-American Students

No Comments 16 March 2017

Scholarships don’t just celebrate good grades. They also can celebrate a person’s ethnicity and heritage. Take a look at this list of scholarship for African-American students.

The Gread “Lefty” McKinnis Memorial Foundation Scholarship – This award is for African-American men from the Chicagoland area. Applicants must be college-bound high school seniors. Scholarships will be awarded based on community involvement, personal statements, letters of recommendation, and an interview with the scholarship committee. The award for this scholarship is typically $1,000.

UNCF/Koch Scholars Program – This scholarship is for African-American students who are college-bound high school seniors or current college freshmen. Applicants must either be studying, accounting, business, economics, engineering, history, philosophy or political science. The award amount for this scholarship is typically $5,000.

Blacks at Microsoft Scholarships ­– African-American students with a passion for technology are eligible for this scholarship. Applicants must be college-bound high school students who plan to pursue a degree in engineering, computer science, computer information systems or certain business programs. Students must maintain at least a 3.3 GPA and demonstrate financial need. The scholarship award amount is typically $5,000.

BCALA Literary AwardsThis scholarship is for African-American writers. Writing submissions must have been published in the previous year and portray some aspect of the African-American experience. The award amount for this scholarship is typically $500.

Visual Task Force Scholarship – African-American students currently majoring in journalism or interest in pursuing journalism are eligible for this scholarship. Applicants must be current National Association of Black Journalists (NABJ) members, maintain a minimum 2.75 GPA and submit a 1,000- to 2,000-word essay on a given topic. The award amount for this scholarship is typically $1,500.

Development Fund for Black Students in Science and Technology Scholarship – This scholarship is for African-American students who are studying a scientific or technical field at a Historically Black College or University. The award amount for this scholarship is typically $2,000.

CBC Spouses Education Scholarship – African-American students who hold a minimum 2.5 GPA, demonstrate leadership and participate in community service are eligible for this scholarship. College-bound high school students and current college students are eligible for this scholarship. Congressional Black Caucus member constituents will be given preference for this scholarship. The award amount for this scholarship ranges between $500-$800.

DeWayne Wickham Founder’s High School Scholarship – This scholarship is for college-bound high school seniors who are members of the NABJ. Applicants must demonstrate financial need, community involvement and plan to study journalism or a communications-related discipline. The scholarship award amount is typically $2,500.

African American Students, Diversity, Federal Loans

Student Loan Debts at Historically Black Colleges and Universities

No Comments 20 January 2017

People who attend historically black colleges and universities (HBCUs) typically have larger amounts of student loan debt than those at traditional universities. Debt loads at HBCU’s tend to be larger because many students are low-income and/or first-generation.

According to the United Negro College Fund’s report, FEWER RESOURCES, MORE DEBT: Loan Debt Burdens Students at Historically Black Colleges and Universities, HBCU students typically graduate with higher debt loads because they borrow at a higher rate than their non-HBCU peers. According to a 2013 study, HBCU students borrow an average of $26,266 in federal loans. Non-HBCU students borrow an average of $14,881.

HBCU students also have lower loan repayment rates than their non-HBCU counterparts. According to the report: “Seven years after leaving college, the average cohort repayment rate for HBCU students is considerably lower than that for students at non-HBCUs (59 percent vs. 85 percent).” This rate, however, does not include factors that impact repayment rates such as student economic status, labor market conditions and choice of educational program.

Another issue facing HBCU students is that more come from families with lower incomes than their non-HBCU peers. In 2005, the median family income of students at HBCUs was $28,400. That is about half the median family income ($51,400) for students who attend non-HBCUs. The discrepancy in income limits the ability of an HBCU student to pay for college. Thus, HBCU students have large amounts of unmet need that require them to take out student loans.

HBCU institutions have limited resources, which hinders their ability to provide grants to students. In 2015, the top 10 HBCU endowments to provide grants to students ranged from $34 million to $660 million. The endowments for non-HBCU institutions that year ranged from $10 billion to $36 billion.

Suggestions to reduce the HBCU student debt loan

  • Policymakers should reduce the complicated nature of the federal student aid eligibility process and provide more aid to those in need
  • Grant aid and work-study opportunities should be increased
  • Federal loans should be less costly for students and their families
  • The federal student loan servicing system repayment process should be more manageable, effective and efficient

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