Scott’s announcement came a week after the Trump administration was both praised and criticized for redirecting $495 million to Black colleges and universities — much of it coming from other institutions with programs that benefit students of color.
This boom in investments in HBCUs comes after a Gallup survey released last month reported that the percentage of Americans viewing higher education as “very important” has decreased from 53 percent in 2019 to 35 percent today.
For the record, most Americans — 75 percent — still view having a college education as important. It is worth noting that the percentage of people of color who view a college education as very important — 49 percent — is significantly higher than the percentage of white people who feel the same way — 28 percent. This should come as little surprise to those who have engaged multiple people of color older than the Gen Zers who are bypassing college with the goal of becoming social media influencers.
Former first lady Michelle Obama addressed the world view directly in her memoir “Becoming.”
“There’s an age-old maxim in the black community: You’ve got to be twice as good to get half as far,” she wrote, echoing what she often shared at HBCU graduation ceremonies during her time in the White House.
And for many Black Americans, being twice as good means being credentialed with at least a diploma from a four-year degree-granting institution. But marking that accomplishment has gotten increasingly difficult in recent years, given the rising costs of higher education.
The average cost of college in the United States is $38,270 per student per year, including books, supplies, and daily living expenses, according to the Education Data Initiative.
And while HBCUs only enroll about 10 percent of all Black college students, the cost of attending one of these institutions without financial assistance is practically impossible for most students. Ninety percent of HBCU students in 2019-2020 received some type of financial aid. Scott’s gift comes at a time when Black Americans are disproportionately burdened by college debt.
Even beyond attending an HBCU, funding a college degree is virtually impossible for many without going into debt. In 2022, 36 percent of Black adults had student loan debt, compared to 20 percent of white adults, according to the Federal Reserve. And the debt balances of Black students are much larger. Four years after receiving a bachelor’s degree, Black graduates owe an average of $25,000 more than white graduates, according to a Brookings report.
So a growing number of Americans appear to be asking: Why pursue a degree at all?
One reason is that some numbers continue to suggest it is a wise investment.
According to census data released last month, college graduates earn more than twice as much as high school graduates. And while the median income of a household led by a high school grad was $58,410, the number was $132,700 in a household headed by someone with at least a bachelor’s degree.
In a capitalist society, it’s easy to focus on finances alone when trying to determine the “importance” of a college degree. But there are factors beyond salaries that should be considered when assessing importance. Highly educated Americans are more likely to live longer and healthier lives, be homeowners, vote in elections, and volunteer in and donate to their communities.
There’s no doubt that more Black students need to be exposed to career options beyond those made available at four-year institutions. But some of those options present major challenges within themselves. Community colleges have historically been viewed as a viable alternative to four-year institutions for Black students, but the number of Black students enrolling in community colleges dropped more than 40 percent in the decade preceding the COVID-19 pandemic due to rising costs, low graduation and transfer rates, and lower salaries upon graduation compared to non-Black students, among other issues, according to a report from the Joint Center for Political and Economic Studies.
Given the various challenges facing institutions that focus on educating Black students beyond high school, Scott continues to show that if there is going to be a sizable increase in Black Americans playing more influential roles in our politics and economies, supporting them in their education journeys is imperative.
