{"id":456257,"date":"2021-03-11T14:56:39","date_gmt":"2021-03-11T19:56:39","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=456257"},"modified":"2021-03-11T14:56:39","modified_gmt":"2021-03-11T19:56:39","slug":"tmcf-applauds-the-passage-and-signing-of-the-american-rescue-plan","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/tmcf-applauds-the-passage-and-signing-of-the-american-rescue-plan\/","title":{"rendered":"TMCF APPLAUDS THE PASSAGE AND SIGNING OF THE AMERICAN RESCUE PLAN"},"content":{"rendered":"
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\n WASHINGTON, DC, March 11, 2021 (GLOBE NEWSWIRE) — <\/strong>The Thurgood Marshall College Fund (TMCF) thanks President Biden and both houses of Congress for the passage and signing of the American Rescue Plan Act of 2021 (American Rescue Plan) which includes a record $3 billion in relief for Historically Black Colleges and Universities (HBCUs), Predominantly Black Institutions (PBIs), and other Minority-Serving Institutions (MSIs).<\/p>\n

The American Rescue Plan, similar to the other COVID-19 relief bills, includes a specific set-aside for HBCUs, PBIs and other MSIs within the total of $40 billion allocated to higher education as a whole. In addition, the American Rescue Plan includes $350 billion in state and local aid along with \u201cmaintenance of effort\u201d and equity provisions which are specifically designed to prevent potential reductions in state appropriations to higher education in an attempt to offset any COVID-related, federal supplemental relief funding received by our schools.<\/p>\n

\u201cWith the passage and signing of the American Rescue Plan, the Biden Administration and the 117th Congress are off to a strong start as it relates to supporting HBCUs, PBIs, and their students. From this bill alone, HBCUs will prospectively receive more than $1.5 billion in direct aid from the federal government,\u201d said Dr. Harry L. Williams, President and CEO of TMCF. \u201cAt the start of this unprecedented health emergency, the uncertain future that faced all institutions of higher education were even more magnified at HBCUs and PBIs, where we enroll a significantly higher percentage of low-income students and our balance-sheets are markedly more tuition-dependent than many of our counterparts.\u00a0 Despite our particular challenges, the hard work and commitment of our champions has provided us with the support necessary to allow our institutions to continue to pursue their life-changing work. This was truly a Herculean achievement of which all involved, especially the Bipartisan Congressional HBCU Caucus, should be proud.\u201d<\/p>\n

\u201cAcross the country, higher education students are struggling to afford basic necessities and to scrape together the money they need for tuition, and institutions are grappling with rising costs to implement critical public health measures and budget shortfalls. But these challenges are even more severe for historically under-resourced institutions like HBCUs and for students with low incomes and students of color who have long-faced inequities in our higher education system,\u201d said Senator Patty Murray (D-WA), Chairwoman of the Senate Health, Education, Labor and Pensions Committee. \u201cThe American Rescue Plan includes $40 billion for higher education, including additional relief specifically for HBCUs in order to get students much-needed financial aid and ensure HBCUs can weather this storm. We must keep working to ensure higher education is a tool to address inequality, not reinforce it\u2014and that\u2019s exactly what the American Rescue Plan will help achieve.\u201d<\/p>\n

\u201cInvesting in our HBCUs and MSIs, their students, faculty, and staff, is vital in supporting communities of color, especially as our nation recovers from COVID-19,\u201d said Congresswoman Rosa DeLauro (D-CT), Chairwoman of the House Appropriations Committee. \u201cI am thrilled the American Rescue Plan once again prioritizes these institutions and will help them continue the process of responding to and recovering from this pandemic. I will continue to fight for strong investments in HBCUs and MSIs to ensure they have the tools they need to educate our future leaders.\u201d<\/p>\n

\u201cThe President\u2019s American Rescue Plan provides ample evidence that he is fully aware of what needs to get done: keep our communities safe, protect the least advantaged among us, and bring our country together,\u201d said Dr. Tony Allen, President of TMCF Member-School Delaware State University. \u201cThat is particularly clear in his plans to provide a long-term, substantive foundation for some of our nation\u2019s most important institutions, Historically Black Colleges and Universities and Minority-Serving Institutions. The $3 Billion allocated to our schools is not only historic, but also helps preserve our collective mission of delivering a high-quality, low-cost higher education accessible to ALL. We are thankful for promises kept and will be good stewards of what is invested with us.\u201d<\/p>\n

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\n ABOUT THE THURGOOD MARSHALL COLLEGE FUND<\/strong>\n <\/p>\n

Established in 1987, the Thurgood Marshall College Fund (TMCF) is the nation\u2019s largest organization exclusively representing the Black College Community. TMCF member-schools include the publicly-supported Historically Black Colleges and Universities and Predominantly Black Institutions, enrolling nearly 80% of all students attending black colleges and universities. Through scholarships, capacity building and research initiatives, innovative programs, and strategic partnerships, TMCF is a vital resource in the K-12 and higher education space. The organization is also the source of top employers seeking top talent for competitive internships and good jobs. TMCF is a 501(c)(3) tax-exempt, charitable organization. For more information about TMCF, visit: www.tmcf.org<\/a>.<\/p>\n

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