Leaders of historically black colleges say they'll fight a reduction in a federal program they call a financial lifeline at a time of economic distress for the schools and their students.
President Barack Obama's education budget, unveiled Thursday, included major spending increases in many areas — but didn't include an extra $85 million that black institutions have received annually for the past two years thanks to a 2007 change to the student loan laws.
That two-year-old program provided direct funds to federally recognized HBCUs — historically black colleges and universities.
Other direct federal support to the schools would increase from $238 million to $250 million, but with the expiration of the HBCU fund the schools effectively would see a $73 million cut.
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