20 U.S.C. § 1066 — Findings
submitted 34 years ago by Pub. L. 89-329 to r/title-20-EDUCATION · 244 words · no verdicts yet
Congress makes findings about the Federal education mission, the role and needs of HBCUs, and their difficulty obtaining capital. It finds that Federal help with low-cost capital would support and expand their educational mission.
Congress finds that: (1) an important part of the Federal education mission has been equal opportunity in higher education for low-income, educationally disadvantaged Americans and African Americans; (2) HBCUs have played an important role in American history and have an unmatched record of developing African American young people by recognizing their potential, improving academic and technical skills, and developing social and political skills through higher education; (3) academic and residential facilities at all HBCUs have suffered neglect and deferred maintenance and need capital improvements to provide suitable places for learning and social development; (4) because of small enrollments, limited endowments, and other factors lenders consider in construction financing, HBCUs often cannot obtain the borrowing and bond financing needed for those improvements; (5) despite long and notable institutional survival and viability, HBCUs often lack the resources needed to obtain traditional capital financing such as bank loans and bonds; and (6) Federal help providing low-cost capital would let HBCUs continue and expand their education mission and strengthen their important role in American higher education.
The Congress finds that—
a significant part of the Federal mission in education has been to attain equal opportunity in higher education for low-income, educationally disadvantaged Americans and African Americans;
the Nation’s historically Black colleges and universities have played a prominent role in American history and have an unparalleled record of fostering the development of African American youth by recognizing their potential, enhancing their academic and technical skills, and honing their social and political skills through higher education;
the academic and residential facilities on the campuses of all historically Black colleges and universities have suffered from neglect, deferred maintenance and are in need of capital improvements in order to provide appropriate settings for learning and social development through higher education;
due to their small enrollments, limited endowments and other financial factors normally considered by lenders in construction financing, historically Black colleges and universities often lack access to the sources of funding* necessary to undertake the necessary capital improvements through borrowing and bond financing;
despite their track record of long-standing and remarkable institutional longevity and viability, historically Black colleges and universities often lack the financial resources necessary to gain access to traditional sources of capital financing such as bank loans and bond financing; and
Federal assistance to facilitate low-cost capital basis for historically Black colleges and universities will enable such colleges and universities to continue and expand their educational mission and enhance their significant role in American higher education.
Source credit: (Pub. L. 89–329, title III, § 341, formerly title VII, § 721, as added Pub. L. 102–325, title VII, § 704, July 23, 1992, 106 Stat. 741; renumbered title III, § 341, Pub. L. 105–244, title III, § 301(a)(3), (4), Oct. 7, 1998, 112 Stat. 1636.)
- 1992Enacted · Pub. L. 89-329 · 106 Stat. 741
- 1998Amended · Pub. L. 105-244 · 112 Stat. 1636
A history note hasn’t been published yet. The record shows enactment by Pub. L. 89-329 on 1992-07-23.
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