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Wednesday, November 16, 2011

postheadericon Bad investment advice: Cutting federal funds to HBCUs

An investment adviser who told his clients to take their money out of a company that had shown a solid return on investment year after year would soon find his customers taking their advice from someone else. 

Yet that is exactly the advice that some in Congress are giving to the deficit-cutting Super Committee and congressional appropriators in regard to federal support for historically black colleges and universities (HBCUs).  These institutions produce 47,000 college graduates a year, graduates who go on to become the teachers, scientists, engineers and business executives that employers need and the country relies on to keep us competitive in the global economy.

Yet House appropriators want to cut federal support for HBCUs under Title IIIB of the Higher Education Act by $85 million, more than 36% of what these institutions receive today. HBCUs may be on the Super Committee chopping block as well.

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