In its FY23 budget proposal, President Biden and his administration have once again
demonstrated their commitment to investing in Historically Black Colleges and Universities
(HBCUs) in an historic fashion.
The President’s FY23 recommended budget includes a record total $2,175 increase to the
maximum Pell award, setting it on a path to meet the President’s goal of doubling Pell by 2029;
significant increases Title III funding to HBCUs, Predominantly Black Institutions (PBIs) and
other Minority Serving Institutions (MSIs), and includes $450 million for four-year HBCUs, PBIs
and MSIs to expand research and development infrastructure at these institutions.
Increasing research capacity and opportunity at our schools is of critical importance to the long-
term sustainability and growth of our institutions, and to the overall research capacity of our
nation as a whole. We are delighted that President Biden has recognized the importance of
schools having an active role in this effort as was first demonstrated in the American Jobs Plan,
then in the Build Back Better Act and now in the President’s FY ‘23 recommended budget.
TMCF looks forward to working with Congressional leadership, the Congressional Black Caucus
and the Bipartisan HBCU Caucus to adopt these historic proposals for the betterment of our
institutions and their students.
Related News
Thurgood Marshall College Fund Leadership Institute opens doors for Harris-Stowe senior
The Thurgood Marshall College Fund (TMCF) Leadership Institute gave Harris-Stowe State University senior Carlo Holmes more than a week of professional development. It gave him a pathway straight into his future career. Holmes, a business administration and marketing major, had never attended Leadership Institute before this year, but he said the experience reshaped how he […]
Thurgood Marshall College Fund helps Tuskegee senior find confidence and community
There was a time when Tuskegee University senior Cameron Bell wasn’t sure college was the right path for her. But after becoming involved with the Thurgood Marshall College Fund (TMCF), she discovered a sense of belonging, purpose and possibility she hadn’t expected. “TMCF was an extension of what I wanted,” Bell said. “The support and […]
Thurgood Marshall College Fund board chair talked about the Federal Reserve on MSNBC’s Morning Joe
The chair of the Thurgood Marshall College Fund (TMCF) Board of Directors made an appearance on MS Now’s Morning Joe recently to discuss how investors are awaiting the Federal Reserve’s final interest rate decision of the year. Racquel Oden, chair of the TMCF board and HSBC Head of Wealth, Premier & Global Private Banking, US, […]