When President Barack Obama addresses graduates at Morehouse College on Sunday, he'll also be speaking to the broader community of historically black colleges and universities — a proud corner of higher education that has struggled more than most during the last few years of economic distress.
The so-called HBCUs educate a hugely disproportionate share of low-income students, and both students and schools have been hit hard by a double punch. First, unemployment for blacks remains nearly double that of whites, making it harder for many students to keep up with tuition. Secondly, tougher credit standards have made it harder to secure a federal PLUS loan used by about one-third of HBCU students.
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