New financial aid policies that would make it more difficult for parents with lackluster credit to borrow money for their children’s college tuition may critically affect students at historically black colleges and universities.
According to Johnny C. Taylor, president and CEO of the Thurgood Marshall College Fund, legal action may take place to reverse the Obama administration’s changes to the PLUS loan program, which would undoubtedly prevent many African-American parents from sending their children to college.
HBCU officials say they were not given a notice of the changed loan standard, noting that students of color typically lack long credit history and accumulated net worth compared to white applicants.